China Reports Strong Stainless Steel Exports in May

SHANGHAI, Jul. 3 (SMM) – China exported 406,900 tonnes of stainless steel in May, the highest since 2009, up 30 per cent year-on-year, and 10.5 per cent month-on-month, according to China Customs. 

SMM attributes the robust exports to two factors. First, Chinese yuan depreciated by about 6 per cent in March and April, favorable for exports. Second, demand from major overseas markets was steady since March 2017. 

During the first five months of 2017, China totally exported 1.63 million tonnes, up 8.5 per cent on a yearly basis, according to China Customs.  

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