FLASH: China's Jan-May stainless steel imports down 48.7% YoY

China's stainless steel imports totalled 724,700 tonnes over January-May, plunging by 48.7% on year, while its stainless exports also dropped by 12.2% on year to 1.7 million tonnes during the same period, according to the data released by the country's General Administration of Customs (GACC).

Of the total imports in the first five months, 551,400 tonnes of stainless steel came from Indonesia, slumping by 53.9% on year, the GACC's data showed. For May alone, China imported 141,700 tonnes of stainless steel, up by 16.1% from April but 38.4% lower compared with the same month last