China imported 44,638mt of stainless steel in November, down by 63pc from the prior year period, with anti-dumping duties imposed on imports from Indonesia.
The country imposed anti-dumping duties on stainless steel imports from Indonesia, South Korea, Japan and the European Union late July. China is the largest importer of stainless steel. In the Jan-Nov period, China imported 964,245mt stainless steel, down by 43pc from 1.7mn mt in the prior year.
China’s imports of stainless steel from Indonesia dropped by 91pc, to 4,883mt in November from 58,168mt in 2018. Imports from South Korea also dropped by 63pc or 26,766mt in November to 9,967mt from the prior year. Imports from Japan and Taiwan by 14pc and 7pc, respectively.
The country is also facing a shortage of nickel ore, which it imports from Indonesia, the largest producer of nickel ore globally. Indonesia will impose a complete ban on exports of nickel ore in 2020 to boost its domestic stainless steel industry.