GACC: China's stainless steel imports, exports both drop in H1

China's stainless steel exports and imports both declined in this year's January-June half. Exports during this period totaled 2.06 million tonnes, down 17.6% year on year, according to new data from the country's General Administration of Customs (GACC) released on Monday.

Industry sources attribute the significant decline to weak overseas demand and rising trade barriers. These include new safeguard quotas and Carbon Border Adjustment Mechanism carbon costs in the EU and fresh anti-dumping duties in several Asian markets. China's stainless imports over the same period fell 8.5% year on year to