Driven by rising prices, China's stainless steel exports rose by 27.12% month on month to around 394,000 tons in April. Price expectations climbed as Indonesia raised its benchmark nickel ore prices amid tightening supply. Additionally, resilient infrastructure projects in Southeast Asia and the release of backlogged foreign orders boosted shipping volumes, particularly for cold-rolled coils.

Vietnam became the top buyer, importing 66,000 tons, its second-highest single-month volume ever. Meanwhile, India's exports hit a 19-month high of 36,000 tons, rising by 15,000 tons from March. This growth happened because India extended its BIS certification exemption to fill domestic downstream supply gaps.

Besides, easing international tensions also helped China’s stainless steel exports to the Middle East rebound to 43,000 tons in April, up by 45.7% month on month.