China exported 445,700 tons of stainless steel in August, up by 14% from July but down by 0.5% from a year earlier, according to customs data. Only June’s 446,000 tons was higher this year.
Cumulative exports for January-August reached about 2.9 million tons, down by 13.9% year on year, largely because of new export rules China introduced at the start of the year. Net exports for the period totaled 1.88 million tons, down by 19.8%.
Imports climbed by 21.2% from July to 140,900 tons, and were up by 20.3% year on year. Over eight months, imports totaled about 1.014 million tons, falling by 0.3%. Indonesia was the top source, supplying 118,600 tons in August, up by 22.8% from July and by 24.4% from a year earlier.
Shipments to India rose by 27,200 tons, or 61.1%, from July, while those to Turkey grew by 10,000 tons, or 54.8%. Demand in India appeared notably stronger.
Market participants said June’s surge reflected front-loading ahead of new EU rules, whereas August’s rebound reflected weak domestic demand. Trade barriers are expected to limit exports going forward.