- Vietnam emerges as top stainless steel buyer
- India imports hit highest level in 19 months
China’s stainless steel exports increased by around 27.1% m-o-m to nearly 394,000 t in Apr’26, supported by rising stainless steel prices and stronger overseas demand. Market sentiment improved after Indonesia raised benchmark nickel ore prices amid tightening ore availability, supporting higher stainless steel export offers.
Vietnam emerged as the largest buyer, importing around 66,000 t during the month, marking its second-highest monthly import volume on record. Market participants attributed the increase to stable infrastructure activity and stronger demand for cold-rolled stainless steel products across Southeast Asia.
India’s imports from China also climbed sharply to around 36,000 t in Apr’26, the highest level in 19 months and up by nearly 15,000 t from Mar’26. The rise followed India’s extension of BIS certification exemptions, which supported import arrivals to address downstream supply shortages.
Meanwhile, China’s stainless steel exports to the Middle East recovered strongly, rising by around 45.7% m-o-m to nearly 43,000 t amid easing geopolitical tensions and improving regional trade activity.
Outlook
China’s stainless steel exports are expected to remain supported in the near term amid firm nickel prices, improving regional demand, and easing trade disruptions. However, global pricing volatility and policy developments in key importing countries may continue to influence export flows.
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