SHANGHAI, Apr 28 (SMM) – China's net exports of stainless steel are likely to shrink further in the months ahead after Indonesia in March extended anti-dumping import duties for a number of flat-rolled iron and steel products from seven countries, including China.
Domestic net exports decreased 55% on the year, to 86,600 mt in March. This dragged net exports in January-March by 15.81% year on year, to 346,000 mt.
About 137,000 mt of Indonesian stainless steel entered the Chinese market in March, up 99.71% from February. This included some 49,000 mt of stainless semi-products and 87,000 mt of coiled sheet.
China's Commerce Ministry announced in March its preliminary determination in the anti-dumping investigation into stainless steel imports from Indonesia. The investigation began in July 2018. A final determination will be announced by July.
China's imports of stainless steel in March expanded 92% from February, and stood at 208,400 mt, with Indonesian cargoes accounting for 65.7%, showed the latest data from China Customs.
Imports of stainless steel coiled sheet increased 62% month on month to 133,400 mt in March, and that of extrusion grew 65%, to stand at 12,200 mt.
Fewer deliveries from Indonesia lowered stainless steel imports in the first three months by 27% from the same period in 2018, to 451,000 mt, with that of coiled sheet dipping 23%, standing at 314,700 mt.
Domestic exports of stainless steel in March rose 62% on the month but slid 18% on the year, and came in at 295,000 mt, with exports of coiled sheet falling 29% from March 2018 to 211,900 mt. A greater market share of Indonesian stainless steel accounted for the year-on-year loss. In January-March, exports shrank 21% on the year, standing at 797,100 mt.
On a monthly basis, downstream demand recovered and lifted exports after US-China trade conflicts and a seasonal lull dragged on orders in February.
