GACC: China's stainless steel exports fall 12% MoM in July

China's stainless steel exports totaled 391,394 tonnes in July, lower by 54,860 tonnes or 12.3% from the previous month and falling by 24,856 tonnes or 6% year-on-year, according to new data from the country's General Administration of Customs (GACC).

The monthly decline was largely attributed to weakening overseas demand during the summer holiday season in some regions, Mysteel Global notes. Shipments to Vietnam and India logged noticeable declines, plunging by 32.3% and 18.3% month-on-month, respectively, to 42,000 tonnes and 45,000 tonnes, according to the Customs data. In the January-July period,