China's stainless steel imports reached 167,000 tons in October, showing a 33.46% increase compared to the previous month. However, this figure represented a 48.1% decrease compared to the same period last year. The majority of the total imports, excluding scrap, totaling 131,900 tons, came from Indonesia. This volume, which increased by 49.04% compared to September, decreased by 47.75% on an annual basis.
There were significant changes in import dynamics on a product basis. While the amount of semi-finished products coming from Indonesia decreased, cold-rolled stainless steel products showed a strong increase. The volume of cold-rolled products increased by about 52,200 tons and rose by 133.19% m-o-m. This increase is attributed to the resumption of production at stainless steel cold-rolling plants in Indonesia. The high flow of 300-series cold-rolled products to China is expected to continue in November.
China's stainless steel exports reached 469,200 tons in October. This amount reflected a 10.6% decrease compared to the previous month and a 19% increase compared to the same period last year. While narrow strips, profiles and pipes maintained stable export levels, there were significant declines in coils, sheets and finished product exports.
The decline in export volume was driven by the rising stainless steel prices in October and the cyclical weakening in global demand. In addition, large fluctuations in exchange rates and increased risk aversion put pressure on commodity markets. On a country-by-country basis, exports to South Korea, India, and Turkey have seen significant declines, while shipments to Southeast Asian countries such as Vietnam and Malaysia have remained stable.
Macroeconomic factors and the escalation of international trade frictions are putting further pressure on China’s stainless steel exporters. Export volumes are expected to decline significantly in November and the fourth quarter, underscoring the challenges in the global trade environment.
Comments
No comment yet.