Stainless steel imports fall in May but exports rise significantly as South-East Asia develops rapidly
June 27, 2022
According to SMM statistics, China’s stainless steel imports stood at 229,800 mt in May, a month-on-month decrease of 9,176 or 3.84%, and a year-on-year decrease of 24.05%. The import volume from Indonesia also declined simultaneously.
The export volume, on the other hand, increased significantly by about 486,700 mt compared with April, a month-on-month increase of 23.01% and a year-on-year increase of 32.91%. The major export increase is observed from Turkey, India, and Vietnam. Moreover, according to SMM research, demand for stainless steel may continue to be strong in south-east Asia, India and Vietnam, as the industry is growing exponentially and new plants are being opened.
(Source: SMM News)