In the first half of 2024, China's steel imports declined

According to data released by the General Administration of Customs, China's steel product imports in the first half of 2024 declined by 3.3% compared to the previous year, totaling 3.62 million tons. The import value also saw a 7% decrease, amounting to 5.97 billion USD. The average import price dropped by 3.9% year-on-year to 1,651 USD per ton.

Focusing on June, China imported 575,000 tons of steel products, marking a 9.7% decrease compared to the same month last year and a 6% decrease from the previous month. Import volume decreased by 12% compared to the previous month and 9% compared to the same month last year, amounting to 930 million USD. The average import price was set at 1,609.7 USD per ton, showing a 2.5% decrease from the previous month and a 3.1% decrease from the same month last year.

In terms of iron ore and concentrates, China imported 610 million tons during the January-June period, reflecting a 6.2% increase year-on-year. Import value totaled 72.41 billion USD, up by 10.2% from the previous year. The average import price rose by 3.8% year-on-year to 118.5 USD per ton.

In June, China's imports of iron ore and concentrates reached 97.61 million tons, a 4.3% decrease from the previous month but a 2.2% increase from the same month last year. Import value decreased by 2.9% compared to the previous month but increased by 2.8% year-on-year, amounting to 10.48 billion USD. The average import price was 107 USD per ton, marking a 1.5% decrease from the previous month and a 0.6% increase from the same month last year.

These figures regarding China's steel and iron ore imports continue to illustrate the dynamics in the metallurgical sector and their impact on international trade.