Overview of China's Stainless Steel and Main Raw Material Import and Export from January to July 2024
From January to July 2024, China's cumulative stainless steel imports amounted to 1.2275 million tons, while exports soared to a cumulative total of 2.7754 million tons.
- (1888PressRelease) August 23, 2024 - From January to July 2024, China's cumulative stainless steel imports amounted to 1.2275 million tons, while exports soared to a cumulative total of 2.7754 million tons. Specifically, in July, stainless steel imports were 119,700 tons, a decrease of 11,600 tons from the previous month, down by 8.84%, and a significant drop of 12.54% compared to the same period last year.
Regarding exports, from January to July 2024, the total volume of Chinese stainless steel exports was 2.7754 million tons. Although there was a slight decrease from the previous period, there was a year-on-year increase of 14.09%, indicating a recovery in external market demand. Moreover, the export volume for the first seven months of the year increased by 15.70% compared to the same period last year, demonstrating the strong competitiveness of Chinese 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 decrease of 2.6432 million tons or 11.88% year-on-year. The total ferronickel imports were 5.1489 million tons, an increase of 863,100 tons or 20.14% year-on-year. The import volumes of chromite and high carbon ferrochrome also showed growth trends.
From January to July 2024, China's total chromite imports were 12.1575 million tons, an increase of 2.2335 million tons or 22.51% year-on-year. The total high carbon ferrochrome imports were 2.2508 million tons, an increase of 419,900 tons or 22.94% year-on-year, reflecting China's strong demand in the field of high-end metal materials.
Overall, the import and export data of Chinese stainless steel and its main raw materials reflect new trends in market supply and demand changes, as well as revealing China's important position and growing influence in the global metal market.
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