China stainless steel imports rose 16.9% in October, higher at 207,000 mt

SHANGHAI, Nov 30 (SMM) – China's exports of stainless steel rose 21,000 mt or 7.96% month on month and decreased 9.61% year on year to 284,400 mt, showed China customs data compiled by SMM. China imported 207,000 mt of stainless steel last month, up 16.9% from September and up 136.3% from October 2019.

For the first ten months of 2020, stainless steel exports amounted to 2.69 million mt, down 11% from the same period a year earlier.

China stainless steel imports amounted to about 207,000 mt in October, up 30,000 mt or 16.9% from September. The change of stainless steel imports is mainly due to the increase of steel coil and plate. Indonesia's stainless steel imports rose nearly 40,000 mt, accounting for most of the increase in imports.

According to an SMM survey, the export orders of stainless steel products and household appliances performed well. Most enterprises have started work normally due to the effective control of the pandemic in China. However, some enterprises still have limited production at relatively low operating rates due to the pandemic in foreign countries. Therefore, China's export orders performed well, and it is expected that exports will still perform strongly in November.