SHANGHAI Chinas imports of ferrous scrap during October plunged to their lowest level since February 2011, while other steelmaking raw materials saw mixed results, according to Chinese customs data.
China imported 271,451 tonnes of ferrous scrap in October, down 8.9 percent from September and 51.6 percent lower year on year.
Imports from Japan fell 8.3 percent month on month. Meanwhile, material shipped from the United States, the second-largest supplier to China in October, rose more than fivefold.
Import results for other raw materials were mixed, with iron ore imports of 56.4 million tonnes in October falling 13.2 percent month on month but rising 13.2 percent year on year.
Arrivals from Australia, the largest supplier, fell 20.8 percent month on month, while those from Brazil rose 6.6 percent. Imports from third-largest supplier South Africa fell 16.7 percent from September levels. India, which used to be among the top three suppliers to China, fell out of the top-10 list, shipping only 268,754 tonnes to the Asian giant during the month, down 65.9 percent from September.
Coking coal imports totaled 3.6 million tonnes in October, up 49 percent month on month but down 12.9 percent year on year.
Market participants increased bookings since late September as the steel market rebounded, but the total volume is still low, an industry analyst in Beijing told AMM sister publication Steel First.
Arrivals from Mongolia increased 29.2 percent month on month, those from Australia more than doubled and inflow from Russia surged 89.2 percent.
A version of this article was first published by AMM sister publication Steel First.