GACC: China's stainless steel scrap imports fall 9% MoM in August

China imported around 14,149 tonnes of stainless steel scrap in August, lower by 1,333 tonnes or 8.6% month on month, according to data from China's General Administration of Customs (GACC) published Sunday. On a year-on-year basis, however, imports jumped 4,747 tonnes or 50.5%, keeping volumes well above last year's levels.

The monthly decline was largely driven by reduced shipments from Japan, the leading supplier to China. Stainless steel scrap imports from Japan tumbled by 2,154 tonnes or 25.2% from July to 6,388 tonnes. The drop was larger than the overall monthly decline and was only partly offset by gains