In November 2022, China's stainless steel imports totaled 291,600 tons, a month-on-month decrease of 19,300 tons, a drop of 6.22%, and a year-on-year increase of 53,800 tons, an increase of 22.60%.From January to November 2022, China's stainless steel imports totaled 3.0482 million tons; a year-on-year increase of 391,100 tons, a year-on-year increase of 14.72%.

In November 2022, China's stainless steel exports totaled 400,800 tons, a month-on-month increase of 105,000 tons, an increase of 35.50%, and a year-on-year increase of 6,800 tons, an increase of 1.71%.From January to November 2022, China's stainless steel exports totaled 4.1607 million tons, an increase of 142,800 tons, an increase of 3.55%.

According to customs data, the import volume of cold-rolled coils in November was 245,500 tons, a decrease of 15,100 tons from the previous month and an increase of 13,000 tons year-on-year; The total import volume of cold-rolled coils from January to November was 2.4187 million tons, a decrease of 146,500 tons from last year tons.

In the short term, the spot cost of stainless steel is high, but facing poor demand, the price fluctuates on the cost line; The price is expected to fluctuate between 16,500-17,000 yuan/ton.
In the long run: we need to continue to pay attention to the stimulus of macro policies in 2023. Some industries have expectations for recovery. Some resources may see a significant improvement in trading from mid-to-late February to March, and market activity will increase.