China tops major supplier of global billets

Due to the shortage of billet caused by the Russian-Ukrainian war, China has gradually become the main source of billet supply in many parts of the world.

Since the start of the war on February 24, China has exported 300,000 to 400,000 tons of billets. At least four major Chinese mills have sold billets to Europe, resulting in a tight supply of domestic billets and hot-rolled coils. At the same time, major mills in Indonesia and Malaysia also sold billets to Europe.

Before the war, China rarely exported billets. According to Chinese customs data, in 2021, the country exported only 2.3 tons of billets, under HS code 72071200, while it was zero in the first two months of this year.