Data released recently by the General Administration of Customs showed that in July 2024, Chinas imports and exports of stainless steel and its main raw materials decreased month-on-month. Both the import and export volume of stainless steel decreased month-on-month, the net export volume also decreased, and the import volume of scrap stainless steel also decreased.

From the import data, Chinas stainless steel imports in July were 119,700 tons, a decrease of 11,600 tons from the previous month, a decrease of 8.84%; a decrease of 17,200 tons from the same period last year, a decrease of 12.54%. Among them, the amount of stainless steel imported from Indonesia was 95,800 tons, a decrease of 12,300 tons from the previous month, a decrease of 11.38%, and a decrease of 11,500 tons from the same period last year, a decrease of 10.72%. Overall, from January to July, Chinas total stainless steel imports were 1.2275 million tons, an increase of 247,800 tons from the same period last year, an increase of 25.30%. Among them, the total amount of stainless steel imported from Indonesia was 1.0519 million tons, an increase of 301,900 tons from the same period last year, an increase of 40.25%.

In terms of exports, Chinas stainless steel exports in July were 410,500 tons, a decrease of 42,300 tons from the previous month, a decrease of 9.33%; but an increase of 50,700 tons from the same period last year, an increase of 14.09%. From January to July, Chinas total stainless steel exports were 2.7754 million tons, an increase of 376,700 tons from the same period last year, an increase of 15.70%.

Overall, Chinas net stainless steel exports in July were 290,800 tons, down 30,800 tons from the previous month, a decrease of 9.58%; but up 67,800 tons year-on-year, an increase of 30.40%. From January to July, Chinas total net stainless steel exports were 1.5479 million tons, up 128,800 tons year-on-year, an increase of 9.08%.

In addition, Chinas imports of scrap stainless steel in July were 5,320 tons, down 1,400 tons from the previous month, a decrease of 20.93%; down 13,700 tons from the same period last year, a decrease of 72%. From January to July, Chinas total imports of scrap stainless steel were 60,200 tons, down 143,000 tons from the same period last year, a decrease of 70.37%.

These data show that Chinas stainless steel market experienced a significant adjustment in July, with both imports and exports decreasing, while imports of scrap stainless steel also fell sharply, indicating changes in market demand and supply chain.