Chinese scrap steel imports extend decline in 2015

Feb 17, 2016 08:30 GMT   Source:Scrap Monster

By Anil Mathews (ScrapMonster Author)

February 17, 2016 02:40:40 AM

BEIJING (Scrap Monster): As per the most recent data, the scrap steel imports by China during the month of December last year declined sharply over the previous year. However, imports increased when compared with November ’15.

The country’s scrap steel imports during December 2015 totaled 201,000 tons. The imports dropped by 9.5% year on year. The country had imported 222,000 tons of scrap during the same month in 2014. When compared with the previous month, the scrap imports by the country were up by 13.8%. China had imported 177,000 tons of scrap during November last year. The monthly imports crossed 200,000 tons for the first time in six months during December last year.

The largest scrap exporter to China during December last year was Japan. The scrap imports from Japan totaled 152,000 tons, accounting for more than three-fourth of the total imports by China during the month. The imports from Japan were down by 18.4% over the previous year. In second place was Hong Kong with 12,000 tons. The imports from Hong Kong witnessed sharp rise of over 200% year-on-year.

The cumulative scrap imports by the country during the entire year 2015 totaled 2.328 million tons. The yearly imports were down by 9.2% when matched with the imports of 2.564 million tons during 2014. The monthly imports averaged at 194,000 tons during 2015. The average monthly imports continued to remain below 200,000 tons for the fifth year in a row.