[SMM analysis] stainless steel exports decreased by 11.45% in October, and exports continued to weaken.

SMM, 9 Dec:

Exports of stainless steel increased by 2.79 per cent to 3.4087 million tons from January to October. The decline in coil exports in 2018 was mainly due to the increase in Indonesian exports, while narrow-band pipe exports continued to increase.

Source: general Administration of Customs, SMM collation

In the first quarter of 2018, the net export volume of stainless steel was the lowest in the whole year, with an average of 137000 tons per month, of which the net export volume in February was 89200 tons. This was mainly due to the increase in imports of Indonesian stainless steel rings to 173000 tons in February. Stainless steel exports increased gradually in the second quarter, while imports were relatively stable, and net exports began to climb. Since the third quarter, due to the gradual weakening of trade war and consumption, exports have been suppressed and net exports have declined. SMM expects the monthly average of net exports of stainless steel to be 165000 tons in the fourth quarter.

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