GACC: China's Mar stainless steel imports lower 31% MoM

China imported 152,700 tonnes of stainless steel in March, lower by 31.4% than February though registering a rise of 23.8% compared to the same period last year, according to new statistics released by the country's General Administration of Customs (GACC). The tonnage brought China's total stainless imports for the first quarter of this year to 608,100 tonnes, up 31.9% on year.

The on-month drop in stainless imports last month was mainly reflected in stainless coils from Indonesia. Stainless steel imported from Indonesia shrank 39.3% from February to register 123,000 tonnes in March, accounting for 80.6% of the country's total. By product, China's imports of hot-rolled stainless coils with over 600mm width plunged by 59%