SHANGHAI, Jul 27 (SMM) – China’s imports of stainless steel continued to expand in June, rising 36.93%, or 48,000 mt, from May to 179,000 mt, showed the latest China customs data compiled by SMM.
An increase in stainless steel imports from Indonesia accounted for the overall higher imports last month. China took about 141,400 mt of Indonesian stainless steel in June, up 79%, or 56,200 mt, from that in May.
Customs data also showed that China’s stainless steel exports shrank 11.35%, or 29,000 mt, month on month to 224,000 mt in June.
On the backdrop of increased imports and reduced exports, China’s net exports of stainless steel further trended downward, dipping 63% month on month and 81% year on year, to 45,000 mt in June.