China imported 6.98 million tonnes of steel products during January-November 2023, a year-on-year fall of 29.2%, according to the latest data released by the General Administration of Customs.

The import value came in at $11.64 billion during the first eleven months, down 26.7% on the year. The average import price was calculated at $1,667.0/t, up 3.5% year on year.

In November, China imported 614,000 tonnes of steel products, down 8.1% month on month and 18.4% year on year, data showed.

The total imports were worth $1.0 billion, down 1.4% month on month and 23.6% year on year, with the average import price at $1,628.2/t, up 7.3% month on month yet down 6.4% year on year.

Over January-November, China imported 1.08 billion tonnes of iron ore and concentrates, up 6.2% on the year. Import amounts were $121.25 billion, rising 2.3% from the preceding year, with the average import price at $112.4/t, down 3.7% from a year ago, showed data from GAC.

In November, China imported 100 million tonnes of iron ore and concentrates, rising 3.4% month on month and 3.9% year on year. Imports were worth $12.04 billion, 7.3% higher than a month earlier and up 29.1% compared to the year-ago level. The average import price increased 3.7% on the month and 24.2% on the year to $117.2/t.

(Writing by yan.sun  Editing by Emma Yang)
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