South Korea: Stainless steel flats imports exceed 21,000 t in early May’26

• Hot-rolled imports rise sharply on Indonesian inflows
• Indonesia’s CRC shipments fall significantly

SteelDaily: South Korea’s stainless steel flat product imports reached 21,008 t during 1-17 May, with higher hot-rolled arrivals offsetting a sharp decline in cold-rolled imports.

According to provisional customs data, stainless steel hot-rolled wide strip imports increased 41.8% y-o-y to 9,403 t, supported mainly by stronger inflows from Indonesia. In contrast, cold-rolled wide strip imports fell sharply by 52.3% y-o-y to 11,605 t, reflecting reduced shipments from key Southeast Asian suppliers.

The average import price of stainless steel hot-rolled products increased to $1,838/t compared with $1,697/t during the same period last year. China remained the largest supplier with 3,333 t, followed by Taiwan at 2,241 t, Indonesia at 1,787 t, and Japan at 1,359 t.

Market participants noted that Indonesian hot-rolled stainless steel shipments increased significantly this year, rising from only 21 t during the same period last year to over 1,700 t, supported by competitive offers and stronger regional trade flows.

Meanwhile, the average import price for stainless steel cold-rolled products stood at $1,858/t, slightly higher than $1,820/t last year. China remained the leading supplier at 5,631 t, followed by Taiwan at 3,218 t, India at 945 t, and Malaysia at 898 t.

Imports of cold-rolled stainless steel from Indonesia and Vietnam declined sharply during the period. Indonesian CRC shipments dropped from 6,837 t last year to only 17 t this year, while Vietnamese supplies fell from 5,300 t to 21 t.

In the 200-series segment, cold-rolled stainless steel imports increased compared with last year, reaching 2,941 t, with Chinese-origin material accounting for the majority at 2,899 t. The average import price for Chinese 200-series CRC was reported at $1,314/t.

Outlook

South Korea’s stainless steel import market is expected to remain mixed in the near term, with Indonesian hot-rolled products continuing to gain market share, while weak downstream demand and inventory pressure may continue to weigh on cold-rolled import volumes.

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