China's stainless steel imports hit intra-year high in October

China's stainless steel imports reached 284,200 tons in October, up 22.8% from September and hitting a new high this year, but tonnage was still 8% lower, according to data released by the country's General Administration of Economic Affairs. .6% compared to October 2022. Customs (GACC).

The month-on-month rise was mainly reflected by higher stainless steel imports from Indonesia in October, which jumped 23.9% month-on-month to 250,900 tonnes.

China imported a total of 1.67 million tons of stainless steel from January to October, down 39.4% year-on-year, according to GACC data.

Driven by weak overseas demand, China's stainless steel exports fell 1.9% month-on-month to 336,500 tonnes in October, although volumes were still up 13.8% year-on-year. According to GACC statistics, the country exported a total of 3.44 million tons of stainless steel over the past ten months, losing 8.4% year on year.