According to Jiangyin Customs that, Jiangyin port has imported a worth of USD 0.32 billion or 0.841 million tonnes of steel in the Q1 this year, 8.11 and 3.67 times from the same period of last year; the volume of steel billet has stood at 0.495 million tonnes with the value of USD 0.183 billion up by 318%YoY and 235.7%YoY and that of the imported scrap is posted at 0.17 billion tonnes valued at USD 44.47 million, 77.8 times and 56.4 times from the previous year.

Jiangyin is becoming one of the major steel billet distributing centres in China.

As per report, the imported volume of steel billet was on the increase in recent years, given to the continuous demand growth of steel billet, iron ore etc in Jiangyin city, Jiangsu province. By now, Jiangyin port has formed cargo ship lines focused on large bulk cargos, like steel billet and iron ore etc. Along with the improved conditions, the port has met the import demands of the local enterprises, and meanwhile it has attracted the enterprises from neighbouring areas to import billet from Jiangyin port.

Besides, the steel billet business units mainly come from the foreign trade companies in Jiangsu, Shanghai, Zhejiang and Beijing. The import proportion of the local enterprises has only occupied 16.1% of the total.

(Source: Jiangyin Daily)