China increased steel imports to a record volume of 2.9 million tons

China in September increased steel imports to a record volume of 2.89 million tons, according to data from the Ministry of Industry and Informatization of the PRC.

The average price was $ 689 per ton.

For three quarters, the country imported 15.07 million tons of steel, which is 72.2% more than in the same period last year. At the same time, exports fell by 19.6% to 40.39 million tons, the Xinhua news agency reports.

Steel production in China in January-September increased by 4.5% and reached 781.59 million tons. At the same time, the growth rates were growing: in the first quarter they amounted to 1.2%, in the second quarter – 1.7%, and in the third quarter the jump was 10.3% in annual terms.

By the end of 2020 steel production will exceed 1 billion tonnes, the China Iron and Steel Association (CISA) predicts. Compared to last year, the increase will be 3-5%.

According to the materials: Xinhua News Agency