GACC: China's stainless scrap imports slump 26% YoY in March

China's stainless steel scrap imports continued to decline year-on-year in March to total just 6,360 tonnes, lower by a sizeable 26.3% from the same month in 2024, according to data released by the General Administration of Customs (GACC) on April 20.

The sharp drop was mainly due to a significant fall in shipments from Japan, China's top supplier, which tumbled 54.5% year-on-year to just 2,642 tonnes last month. Imported stainless scrap also lost its cost advantage over domestic material. Based on the GACC data, Mysteel Global estimated the average import price