China’s stainless steel net exports reached 324,600 tons in May, up by 44.5% compared to the previous month and by 4.3% year on year, driven by plunging imports and steady export growth. Stainless steel imports dropped by 46.3% from April to 91,100 tons, with major suppliers Indonesia, Japan, and South Korea accounting for over 90% of the January-May total.
Concurrently, May exports totaled 415,700 tons. Indian demand spiked due to local supply deficits and extended BIS certification exemptions, driving Chinese shipments there to a 20-month high of 46,000 tons.
Separately, reduced European Union import quotas raised tariff barriers, inflating European prices and lengthening delivery times. This wider price gap made Chinese steel highly cost-effective, prompting Turkey to import more Chinese material as it redirected domestic supply toward Europe.