China’s stainless steel exports increased by 33.4% in August

According to SteelRadar’s data compiled from the General Administration of Customs, China’s stainless-steel exports hit a new record of nearly 488,000 tons in August 2024. This figure represents a 19% m-o-m and 33.4% y-o-y increase.

The increase in exports was largely due to an increase in stainless steel coil shipments. Hot rolled coil exports increased by 22% m-o-m and cold rolled coil exports by 20% m-o-m.

In the first eight months of 2024, China exported nearly 3.3 million tons of stainless steel, reflecting a y-o-y growth of 23.3%.  In contrast, stainless steel imports decreased; In August, China imported about 99,500 tons of stainless steel, a decrease of 16.8% from the previous month and a decrease of 7.5% from August 2023.