GACC: China's stainless scrap imports decline 9% MoM in May

China's imports of stainless steel scrap declined 8.7% on month to 17,741 tonnes in May, according to new data from the country's General Administration of Customs (GACC). However, the volume still surged 33.4% from a year earlier.

The on-month decline came amid weaker end-user demand during the traditional off-season for stainless steel consumption, with Chinese stainless mills showing limited appetite for restocking and most purchases limited to essential needs, according to market sources. China's stainless scrap imports during the month mainly came from Japan, Thailand and Malaysia,