China's Stainless Steel Imports Fell in Dec 2022

SHANGHAI, Feb 15 (SMM) - According to SMM statistics, China imported 237,100 mt of stainless steel in December 2022, a month-on-month decrease of 18.8% and a year-on-year decline of 12.4%.

The amount of stainless steel imported from Indonesia was 189,800 mt, down about 18.2% on the month and down 10.79% from the previous year. The proportion of imports from Indonesia to the total imports fell to about 69%, mainly because a large stainless steel plant in Indonesia was shut down in December. After the Chinese New Year (CNY) holiday, China's stainless steel demand may recover in early 2023, which means that the total import volume of stainless steel will increase significantly in January-February.