China’s steel semis imports increased by 162% to 1.69 million tonnes in November 2020 from 645,000 tonnes in the same month a year before, latest data from China’s General Administration of Customs (GAC). The cumulative imports in the first eleven months this year came to 17.47 million tonnes, up 697% y/o/y.

The largest exporter of steel semis to China during November this year was Vietnam. The imports from Vietnam totaled 364,000 tonnes, up 321% y/o/y. The second largest source was Brazil with 243,000 million tonnes, no imports from this country in the same month last year. The third largest exporter of steel semis to China was Indonesia with 219,000 tonnes, up 4369% y/o/y. The fourth and fifth were Oman (199,000 tonnes) and Russia (195,000 tonnes).

In the first eleven months of this year, the main sources of steel semis imports to China were Russia (3.04 million tonnes), India (2.98 million tonnes), Vietnam (2.77 million tonnes), Indonesia (1.61 million tonnes), Brazil (1.4 million tonnes), and Iran (1.27 million tonnes), accounting for 17.4%, 17.1%, 15.8%, 9.2%, 8% and 7.3% of the total imports respectively.

From the data above, China’s semis imports remained at a high level. With the soaring global price, which has exceeded China domestic ones, however, there is little interest for China to continue purchasing semis products on international markets. Therefore, the imports may fall sharply in December.

Table 1: China’s Steel Semis Imports

Source: China’s General Administration of Customs, SteelHome Database

Graphics 1: China’s Steel Semis Imports (2019-2020)

Graphics 2: Main Steel Semis Exporters to China in Jan-Nov 2020

Source: China’s General Administration of Customs, SteelHome Database

Table 2: China’s Steel Semis Imports by Country

unit: ’000 tonnes

Source: China’s General Administration of Customs, SteelHome Database