In January this year, China exported 248,114 mt of stainless flat steel, up 19 percent compared to 208,340 mt in December and up 70 percent year on year. The growth is mainly attributed to the strong demand from Asian markets as well as low prices.

January deliveries were mostly ordered by the end of November or in December, when prices were relatively low. Between November 29 and December 27, prices of 304 series CR coils (2 mm 2B) stood at $2,300-2,430/mt CIF East Asia ports, about $40/mt lower compared to the current price.