Stainless steel net exports in Jan-May remain lower on year

SHANGHAI, Jun 27 (SMM) – China's net exports of stainless steel in May expanded 3% on the year, to stand at 248,700 mt, the latest customs data showed on Thursday June 27. Net exports in January-May remained 3.62% lower from a year ago and stood at 845,500 mt, affected by materials from other countries.

Customs data showed that China exported 319,100 mt of stainless steel in May, up 6.86% from April but down 20.84% from May 2018. Exports in January-May decreased 21.76% year on year, and came in at 1.41 million mt.

Exports of steel coil sheet, plate lost 31.3% from a year ago, to stand at 203,400 mt, lowered by greater market share of Indonesian products. 

Imports of stainless steel jumped 87.85% from a month ago to 70,400 mt in May, with imports of plate/sheet coils rising 12.12% and pipe products expanding 27.80%. 

Imports in January-May stood 38.85% lower from the same period last year, as fewer Indonesian materials entered China.

China imported some 284,800 mt of Indonesian stainless steel in January-May, down 55% year on year. This came even as imports of Indonesian materials expanded 500% from April, to 4,200 mt in May. 

Stainless steel semi-products accounted for the majority of Indonesian imports in May.