Customs data shows that the domestic stainless steel import volume in July was 136,800 tons, while the export volume was 359,800 tons. Due to the continued low level of imports and relatively stable export performance, the domestic stainless steel net export in July was 223,000 tons, which has been five consecutive Monthly above 200,000 tons.
July is still at the end of the off-season of seasonal consumption, but there is an expectation of stocking up in advance during the peak season, boosted by the common price increase of futures and spot goods, the market purchases have improved significantly in the second half of the month, and some customers have entered the market to purchase and stockpile. According to calculations, the apparent domestic consumption of stainless steel in July was 2.83 million tons, an increase of 92,000 tons or 3.35% month-on-month, and an increase of 710,000 tons or 33.4% year-on-year. The consumption from January to July 2023 is 18.13 million tons, which is an increase of 1.31 million tons or 7.8% compared to the same period last year.
The current price continues to be high, and transactions on some trading days can be considered "hot". Apparent domestic consumption of stainless steel is estimated to be around 2.87 million tons in August, up 1.3% month-on-month and 38% year-on-year.
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