GACC: China's stainless scrap imports skyrocket 52% MoM in Sept

China's stainless scrap imports saw a spectacular rebound in September, with volume rising for a second straight month, increasing by 4,886 tonnes or 52% month-on-month to stand at 14,300 tonnes, according to the latest data from the country's General Administration of Customs (GACC). Compared with the same month last year, the volume soared by a larger 9,172 tonnes or 179.3%.

The surge was driven by strong demand for raw materials from the domestic stainless steel sector, Mysteel Global notes. The country's total crude stainless output in September reached around 3.43 million tonnes, representing a rise of 111,100 tonnes or 3.4% from August, according to the results of Mysteel's most recent