Chinese Growth threatens Raw Materials Balance

摘要

Despite trade restrictions and political and economic uncertainties, the global steel trade continues to prosper. Latest estimates suggest that in 2002 it increased by around 5 percent on 2001, although this upward trend was not shared among all markets. Of the three key markets for the consumption of semis and finished steel-the USA, the EU and China -the Chinese market displays the fastest and most sustained import growth. Five years ago, China imported around 13Mt of steel, which more than doubled to 29Mt last year. While some of these imports are semifinished steel-2Mt of billets and 2Mt of slabs-the majority of imports are finished flat products-8Mt of cold reduced, 5Mt of hot rolled wide coil and 5Mt of coated sheet. The majority of these imports are sourced from neighbouring countries-60 percent from Southeast Asia and a quarter from the CIS.