According to statistics from China Customs, in the first quarter of this year, China’s stainless steel imports reached around 408,000 tons, falling by 9.4% compared to the same period a year ago. Exports fell by 35.2% year on year to approximately 795,000 tons. Consequently, net export volume dropped by 50% to roughly 387,000 tons.

In March alone, figures showed 147,000 tons of imports and 302,000 tons of exports, respective monthly growth of 16.9% and 16.2%. Despite this, exports in March plunged by 55.7 year on year, pushing net exports down by 54.7%.

In terms of stainless steel scrap, imports surged by nearly 125% year on year to 14,100 tons, contributing to a first-quarter total of 41,800 mt, representing a year-on-year surge of 110.4%.