According to the latest statistics by Customs, impacted by the overcapacity and shrinking demand, steel import through this October decreased dramatically at Tianjin port to 0.842 million tonnes with the value of USD 1.68 billion down by 10.9%YoY and 23.8%YoY respectively
The volume of imported steel products through common trading mode during January to October totaled 0.733 million tonnes taking up by 87.1% of the whole steel imports at Tianjin port while the imports of foreign enterprises went at 0.548 million tonnes accounting for 65.1% of the total.
The restricted steel export on the back of downward international steel price and trade protectionism is analyzed to be another factor weighed on steel import.
