China's leading stainless steel companies, Taiyuan Iron & Steel Group Corporation (TISCO) and Baoshan Iron & Steel Co. (Baosteel), have in separate announcements claimed that China may become a net stainless steel exporter in 2008.
After becoming the world's largest stainless steel producing country with an output of 5.3 milion mt in 2006 (up 68 percent year on year), China's stainless steel exports have also increased strongly. China imported 752,300 mt of stainless steel coils in January-June 2007, down 33.5 percent year on year, while it exported 617,800 mt, up 321.85 percent year on year. As a result, net imports decreased by 86.35 percent to 134.500 mt. In consideration of these data, there is a good possibility that China's stainless steel exports may surpass its stainless imports in 2008.
According to the China Special Steel Enterprise Association, China's stainless steel output for the whole of 2007 could be around 500,000 mt in excess of domestic demand.