GACC: China's H1 stainless scrap imports plunge 70% YoY

In the first half of 2024, China imported approximately 54,560 tonnes of stainless steel scrap, marking a 70.4% decrease from the same period last year, according to the latest data from the General Administration of Customs (GACC).

Of these imports, around 36,850 tonnes came from Japan – the largest supplier of stainless scrap to China – representing a 50% year-on-year decrease, GACC data reveals. The sharp decrease in Chinese stainless scrap imports was primarily due to China's lower bid prices for stainless scrap in the spot market,