According to statistics from the General Administration of Customs of China, China's stainless steel exports totaled around 488,000 tons in August, hitting a new high, a month-on-month hike of 19% and a year-on-year increase of 33.4%.

The increase was mainly due to a great growth in steel coil exports, especially for widths more than 600 millimeters. Among them, hot-rolled coil exports rose by 22% and cold-rolled coil increased by 20%, both on a month-on-month basis.

In the first eight months of this year, China's stainless steel exports amounted to around 3.3 million tons, up by 23.3% year on year.

In terms of imports, China imported around 99,500 tons of stainless steel in August, dropping by 16.8% compared to the previous month and by 7.5% from the same month a year ago.