Overview of China’s import and export of stainless steel and main raw materials from January to July 2024

From January to July 2024, China’s stainless steel imports totaled 1.2275 million tons, and exports totaled 2.7754 million tons. Specifically, stainless steel imports in July were 119,700 tons, a decrease of 11,600 tons from the previous month, a decrease of 8.84%, and a decrease of 12.54% compared with the same period last year.

In terms of exports, from January to July 2024, China’s stainless steel exports totaled 2.7754 million tons. Although there was a month-on-month decrease, it increased by 14.09% year-on-year, showing the recovery of external market demand. In the first seven months of this year, the total export volume increased by 15.70% year-on-year, reflecting the strong competitiveness of China’s stainless steel in the international market.

In terms of nickel ore and ferronickel imports, from January to July 2024, China’s total nickel ore imports were 19.6145 million tons, a year-on-year decrease of 2.6432 million tons, or 11.88%. China’s total ferronickel imports were 5.1489 million tons, an increase of 863,100 tons year-on-year, an increase of 20.14%.

The import volume of chrome ore and high-carbon ferrochrome also shows growth momentum. From January to July 2024, China’s total chrome ore import volume was 12.1575 million tons, an increase of 2.2335 million tons year-on-year, an increase of 22.51%. China’s total imports of high-carbon ferrochromium were 2.2508 million tons, a year-on-year increase of 419,900 tons, an increase of 22.94%. This reflects China’s strong demand in the field of high-end metal materials.

Overall, China’s import and export data of stainless steel and major raw materials reflect new trends in market supply and demand changes, and also reveal China’s important position and growing influence in the global metal market.