Steel imports slump in Jan-Sept 2020
Lebanon - 2020 December 30

According to the Lebanese Customs statistics, total steel imports plunged 68 pct YoY to 238,745 tons in the first nine months of 2020.

Lebanon's economy started collapsing last year and the crisis was made worse by the Covid-19 pandemic this year.

The Lebanon PMI index by Blominvest Bank and IHS Markit, a measure of the strength of the country's private sector, fell to 42.4 in November from 43.3 in previous month reflecting deterioration in Lebanese business conditions

A reading above 50 denotes economic expansion and one below 50 represents contraction.

Rebar imports in Jan-Sept 2020 were amounted to 139,529 tons, down by 64pct when compared to the same period last year.

Wire rod imports also decreased by 74.6 pct on-year to 9,375 tons last year.

Hot Rolled steel imports under HS code heading 7208 dropped 70 pct YoY to 36,320 tons.

Cold rolled steel imports under HS Code 7209 were totalled 1,842 tons, down by almost 84 pct pct YoY.

Coated steel imports under HS code heading 7210 declined by 67 pct YoY to 22,597 tons.

Lebanon imported 16,980 tons of alloy bars under HS code 7228, down by 76 pct YoY.



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