Despite port congestion, China's steel product imports surge 37% yoy in February
Shanghai. (Interfax-China) - If there's a slowdown occurring in China, February's steel product import numbers do not reflect it, despite the doomsayers focusing on China's severe port and internal transport congestion problems. China imported 3.37 mln tons of steel products in February this year, representing growth of 120,000 tons from January 2004, and even larger growth of 910,000 tons or 37% compared to February last year.
During the first two months of the year, China's imports of steel products boomed, up 21.5% year-on-year to 1.17 mln tons, according to figures released by China's General Administration of Customs.
Meanwhile, China imported 18.7 mln tons of iron ore in February, significantly increasing by 61% or 7.08 mln tons year-on-year, and by 5.8 mln tons month-on-month. The country's accumulated iron imports during the first two months registered 31.6 mln tons, lifting 36.7% or 8.49 mln tons from the same period last year.
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