Posted on 22 May 2025
China exported 447,800 tonnes of stainless steel in April, marking a 14.1% year-on-year surge, according to data released by the General Administration of Customs (GACC) on May 20.
Despite a 4.8% decline from March's peak, the April volume was still the highest ever recorded for that month, the GACC data show. Last month's record also took the January-April stainless export volume to 1.67 million tonnes, up by a robust 15.1% year-on-year.
Among the total exports, more than 27% were destined for Southeast Asian countries, with volumes to the region surging by 54.8% on year to 458,800 tonnes.
Vietnam remained the top destination, following the country's removal of anti-dumping (AD) duties on Chinese cold-rolled stainless products last November. During the first four months, China exported 170,000 tonnes to Vietnam, up 37% from the same period last year.
While Southeast Asia continued to show strong demand, concerns over rising protectionism have emerged in other regions, sources observed.
On May 16, South Korea's Ministry of Economy and Finance concluded an AD investigation into flat-rolled stainless products from China, Indonesia, and Taiwan, and announced duties ranging from 7.17% to 25.82%, depending on the exporter.
However, major exporters – namely Taiyuan Iron & Steel / Lianzhong Stainless Steel Corp (China), Tsingshan Group (Indonesia), and Yieh United Steel / Walsin Lihwa (Taiwan) – have signed "Price Undertaking" agreements and will be exempted, so long as they comply with minimum pricing terms, according to sources.
A surge in Chinese stainless exports to South Korea was noted ahead of the ruling, with volumes reaching 38,000 tonnes in April, up 41.8% from March and 25% from a year earlier, the GACC data showed.
Meanwhile, escalating trade tensions with the United States have weighed on global market confidence and directly impacted Chinese exports. Only 6,000 tonnes of stainless steel were shipped to the U.S. in April, down 37% year-on-year and 36% from March, the Customs data showed.
"The biggest risk from Trump's tariff campaign is its potential impact on downstream sectors – such as makers and exporters of machinery, electronics, transportation equipment, and precision instruments – that rely heavily on stainless steel," a Shanghai-based analyst noted. "If exports of these finished goods are curbed, global stainless steel demand will inevitably suffer," she remarked, adding that growing trade protectionism driven by "Trump panic" has further dampened global confidence.
In another protectionist move, the European Union reduced its steel import quotas by an additional 15% effective April 1, aiming to shield the bloc from potential surges in diverted steel volumes, according to Executive Vice President of the European Commission, Stefan Sejourne.
As a result, China's stainless steel exports to the EU27 fell to 16,000 tonnes in April, down 40% from March's 26,700 tonnes, the GACC statistics also showed.
On the import side, China brought in approximately 593,000 tonnes of stainless steel during January-April, a decline of 20.92% year-on-year. Imports from Indonesia – home to several Chinese-invested stainless ventures – reached 491,600 tonnes during the period, down by 20.83% year-on-year, according to the GACC data.
Source:Mysteel Global
