Posted on 24 Jun 2025
China exported 436,300 tonnes of stainless steel in May, down 4.7% year-on-year and made for the first on-year decline so far this year, data released by the General Administration of Customs (GACC) on June 20 show. The volume also fell by 2.6% from April, marking the second consecutive monthly drop since the peak in March.
The decrease was largely driven by plunging shipments to South Korea, one of China's key stainless steel export destinations and taking nearly 7% of China's total stainless exports during this year's first five months, the GACC data showed.
The downturn followed South Korea's Ministry of Economy and Finance concluding an anti-dumping investigation on May 16 into flat-rolled stainless products from China, Indonesia, and Taiwan. The ministry announced duties ranging from 7.17% to 25.82%, depending on the exporter, as Mysteel Global reported.
Although several major stainless producers from the targeted regions signed "price undertaking" agreements – allowing them to avoid duties if they meet minimum pricing conditions – China's stainless exports to South Korea still dropped sharply in May.
Shipments to South Korea totalled 28,000 tonnes last month, down 27% from April and 13.9% lower year-on-year, the GACC data showed.
Meanwhile, exports to Vietnam – China's largest stainless steel export destination – also declined in May to 45,000 tonnes, down 13.9% on month. Still, total exports to Vietnam over January-May reached 216,000 tonnes, up 28.2% from the same period last year.
Overall, China exported 2.1 million tonnes of stainless steel during the first five months this year, up 10.4% year-on-year, the GACC data indicated.
On the import side, China brought in around 718,000 tonnes of stainless steel during January-May, a sharp 26.5% decline from the same period last year. Imports from Indonesia – home to several Chinese-invested stainless ventures – fell 30.3% on year to 590,900 tonnes during the five months.
Source:Mysteel Global
