1. Increase in imports and decrease in exports

Import data: according to China Customs data statistics, in October 2024, the domestic stainless steel imports of about 158,300 tons, an increase of 38,400 tons, an increase of 32.1%; year-on-year decrease of 126,000 tons, a decrease of 44.3%. Import regions are dominated by Indonesia, Japan and South Korea.

Export data: in October 2024, the domestic stainless steel exports of about 417,400 tons, a decrease of 41,100 tons, or 9%; year-on-year increase of 80,900 tons, an increase of 24.1%. The main export areas are Vietnam, Russia and India.

2. Stainless steel market supply and demand

 Demand off-season, prices under pressure

Market demand: stainless steel demand is in the off-season, the end market maintains just-demand procurement, and the digestion of social resources slows down. Price performance: affected by stainless steel finished products and ferronickel prices, steel mills scrap purchasing price is weak and stable, the scrap market risk sentiment is strong. Stainless steel prices are low finishing, lack of supply and demand drive.