Meanwhile, China’s finished steel imports in August were at 1.063 million mt, up 1% on the month, but still 53% lower on the year, customs data showed. Imports over January-August were 22% below the year-ago levels, at 9.46 million mt, due to a higher base in 2020.

          As a result, net finished steel exports were 3.99 million mt in August, up 177% on the year. Net exports over January-August were also up 59% on the year, at 38.644 million mt.

          Some traders expected billet imports may slightly increase in the following months, but overall steel imports were unlikely to rise significantly as domestic demand is expected to remain soft because of China’s slowing property sector for the rest of 2021.

--- Steel Business Briefing