- Exports rise 2% m-o-m and 8.6% y-o-y
- January-September shipments fall 11.4% y-o-y
China’s stainless steel exports reached 454,600 tonnes in September 2026, the highest monthly volume recorded so far this year, according to data from the General Administration of Customs of China. Shipments increased 2% m-o-m and 8.6% y-o-y, although cumulative exports remained lower than a year earlier.
From January to September, exports totalled 3.35 million t, down 11.4% y-o-y. Imports during the same period reached 1.14 million t, edging up 0.2% y-o-y.
Monthly exports hit a 2026 high despite cumulative decline
September exports strengthened on both monthly and annual comparisons, but the year-to-date decline indicates that the improvement has not yet reversed the cumulative contraction. Meanwhile, lower monthly imports reflected a reduction in shipments from Indonesia, China’s largest stainless steel supplier.
Imports fall as Indonesian cold-rolled shipments weaken
China imported approximately 125,800 t of stainless steel in September, down 10.7% m-o-m. Imports from Indonesia fell 15.8% to 99,900 t, accounting for 79.4% of total imports.
Cold-rolled stainless steel imports from Indonesia declined 31.2% m-o-m to 71,600 t. In contrast, hot-rolled imports increased 132.7% to 19,000 t, while billets and other semi-finished products rose 47.3% to 9,100 t. No slab imports were recorded during the month.
Cumulative imports show divergent trends
Despite the monthly decline, cumulative cold-rolled imports from Indonesia increased 15.4% y-o-y to approximately 725,000 t during January-September. Hot-rolled imports fell 15% to 114,000 t, while slab imports declined 52.5% to 28,600 t.
Total stainless steel imports from Indonesia reached 943,700 t over the nine-month period, up 3.3% y-o-y. The divergence between monthly and cumulative figures indicates that September’s import contraction had not erased earlier growth.
India-bound exports surge while Vietnam shipments rise
India was a notable destination for Chinese stainless steel exports. September shipments reached 65,000 t, down 9.4% m-o-m but up 367% y-o-y. Cumulative exports to India rose 172.9% y-o-y to 359,000 t.
Exports to Vietnam increased 0.4% m-o-m and 9.1% y-o-y to 44,000 t in September. January-September shipments totalled 416,000 t, up 6.9% y-o-y. September exports to the UK, South Korea, Egypt and the US also recorded relatively significant monthly increases, although volumes were not provided.
Export recovery contrasts with weaker year-to-date performance
September’s export high points to stronger monthly shipment activity, while the 11.4% year-to-date decline shows that overall exports remain below 2025 levels. India’s substantial annual growth and Vietnam’s continued expansion highlight the importance of these destinations in China’s stainless steel export flows.
On the import side, the sharp monthly fall in Indonesian cold-rolled shipments contrasted with cumulative growth in the same category. Further monthly trade data would be needed to determine whether September marks a sustained shift in import flows or a temporary reduction.
Note: This article is published as part of a content exchange agreement between SteelDaily and BigMint
Leave a Reply