Slabs, Billets And Blooms Of Iron And Steel Prices in China

China Slabs, Billets And Blooms Of Iron And Steel Import Price in September 2022

In September 2022, the slabs, billets and blooms of iron and steel price stood at $582 per ton (CIF, China), reducing by -11.9% against the previous month. Overall, the import price continues to indicate a deep slump. The growth pace was the most rapid in April 2022 an increase of 12% month-to-month. Over the period under review, average import prices attained the peak figure at $1,028 per ton in May 2022; however, from June 2022 to September 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In September 2022, the country with the highest price was Brazil ($6,801 per ton), while the price for Russia ($529 per ton) was amongst the lowest.

From January 2022 to September 2022, the most notable rate of growth in terms of prices was attained by India (+51.4%), while the prices for the other major suppliers experienced more modest paces of growth.

China Slabs, Billets And Blooms Of Iron And Steel Import Prices by Type

Prices varied noticeably by the product type; the product with the highest price was iron or non-alloy steel; semi-finished products of iron or non-alloy steel, containing by weight 0.25% or more of carbon ($6,323 per ton), while the price for steel, stainless; semi-finished products, of rectangular (other than square) cross-section amounted to $2,577 per ton.

From January 2022 to September 2022, the most notable rate of growth in terms of prices was attained by iron or non-alloy steel; semi-finished products of iron or non-alloy steel, containing by weight 0.25% or more of carbon (+32.2%), while the prices for the other product experienced more modest paces of growth.

China Slabs, Billets And Blooms Of Iron And Steel Imports

In September 2022, the amount of slabs, billets and blooms of iron and steel imported into China surged to 473K tons, increasing by 61% against the previous month's figure. Overall, imports posted noticeable growth. The most prominent rate of growth was recorded in July 2022 when imports increased by 70% m-o-m. Imports peaked in September 2022.

In value terms, imports of slabs, billets and blooms of iron and steel soared to $275M (IndexBox estimates) in September 2022. Over the period under review, imports, however, showed a noticeable curtailment. The growth pace was the most rapid in March 2022 when imports increased by 47% against the previous month. Imports peaked at 366K tons in January 2022; however, from February 2022 to September 2022, imports failed to regain momentum.

China Slabs, Billets And Blooms Of Iron And Steel Imports by Type

In September 2022, steel, stainless; semi-finished products, of rectangular (other than square) cross-section (6.6K tons) was the main type of slabs, billets and blooms of iron and steel supplied to China, accounting for a 99% share of total imports. It was followed by iron or non-alloy steel; semi-finished products of iron or non-alloy steel, containing by weight 0.25% or more of carbon (58 tons), with a 0.9% share of total imports.

From January 2022 to September 2022, the average monthly growth rate of the volume of import of steel, stainless; semi-finished products, of rectangular (other than square) cross-section totaled -22.5%.

In value terms, steel, stainless; semi-finished products, of rectangular (other than square) cross-section ($17M) constituted the largest type of slabs, billets and blooms of iron and steel supplied to China, comprising 98% of total imports. The second position in the ranking was held by iron or non-alloy steel; semi-finished products of iron or non-alloy steel, containing by weight 0.25% or more of carbon ($365K), with a 2.1% share of total imports.

China Slabs, Billets And Blooms Of Iron And Steel Imports by Country

In September 2022, Russia (464K tons) was the main slabs, billets and blooms of iron and steel supplier to China, accounting for a 98% share of total imports. It was followed by Indonesia (4.8K tons), with a 1% share of total imports.

From January 2022 to September 2022, the average monthly rate of growth in terms of volume from Russia totaled +23.6%. The remaining supplying countries recorded the following average monthly rates of imports growth: Indonesia (-27.7% per month) and Brazil (-60.5% per month).

In value terms, Russia ($245M) constituted the largest supplier of slabs, billets and blooms of iron and steel to China, comprising 89% of total imports. The second position in the ranking was held by Indonesia ($9.7M), with a 3.5% share of total imports.

From January 2022 to September 2022, the average monthly growth rate of value from Russia totaled +18.4%. The remaining supplying countries recorded the following average monthly rates of imports growth: Indonesia (-26.9% per month) and Brazil (-47.5% per month).