China Customs statistics showed that stainless steel exports were around 417,000 tons in October, a month-on-month decrease of 9% and a year-on-year increase of 24.1%.

Among them, exports to Taiwan and India decreased by 18,300 tons and 14,600 tons respectively from the previous month, while exports to Vietnam reached 42,000 tons, an increase of 38% from the previous month, becoming the largest importer of China’s stainless steel in October.

In the first ten months of this year, China exported nearly 370,000 tons to Vietnam, a year-on-year surge of 49%.

In terms of items, cold-rolled stainless steel exports to Vietnam were 10,900 tons, a month-on-month decrease of 7.05%, and hot-rolled exports were 26,500 tons, a month-on-month jump of 133.59%.

Vietnam has canceled anti-dumping duties on cold-rolled stainless steel from China, Taiwan, Malaysia, and Indonesia. Market participants predicted that China’s cold-rolled stainless steel exports to Vietnam may further increase, driving overall export growth.