In the global stainless steel industry pattern, China occupies a pivotal position. In recent years, China's stainless steel exports present a complex and changing situation, facing many serious challenges, but also contains a lot of development opportunities. In terms of scale, China's stainless steel exports continue to climb in the global market share. 2024, China's stainless steel exports exceeded the 5 million tons mark, with the net exports reaching 3,166,500 tons, a significant year-on-year increase of 53.24%. This remarkable growth is mainly attributed to the continuous expansion of domestic stainless steel production capacity. In recent years, with a series of large-scale stainless steel projects put into production, the domestic stainless steel production continues to hit a record high, in order to meet the domestic demand at the same time, to provide a sufficient source of exports. In terms of trading partners, China's stainless steel export map is gradually changing. Traditionally, China's stainless steel is mainly exported to South Korea, India and other Asian countries and some European countries. But in recent years, Vietnam has overtaken India to become the largest export destination of Chinese stainless steel. 2024 1 - November, the proportion of stainless steel exported to India compared with the same period in 2023 fell 6.15 percentage points, mainly due to India's welded stainless steel pipe related to China continue to impose countervailing duties. At the same time, the export volume to Vietnam is a substantial increase in 2024, China's stainless steel exports to Vietnam amounted to 463,100 tons, an increase of up to 53%. In addition to Vietnam, Turkey and other emerging market countries have gradually become an important export destination for China's stainless steel, the concentration of export trading partners has declined, the market layout is increasingly decentralized. Despite the remarkable growth in export scale, China's stainless steel export industry is also facing many thorny issues. Trade barriers are one of the major obstacles. Globally, trade protection measures against Chinese stainless steel products are endless. On April 7, EST, Trump announced that if China does not cancel the 34% retaliatory tariffs, he will impose 50% additional tariffs on China. Although China's exports of stainless steel finished products to the U.S. account for a relatively low volume of 103,400 tons in 2024, or only 2% of total exports, the U.S. has also imposed high tariffs on a number of China's neighbors, such as Thailand, Vietnam, and Cambodia. Among them, 36% of reciprocal tariffs on Thailand, 46% of reciprocal tariffs on Vietnam, and up to 49% of reciprocal tariffs on Cambodia. This has indirectly affected Chinese stainless steel exports to Southeast Asia and elsewhere, as some Chinese companies have been blocked from exporting to the U.S. by setting up factories in Southeast Asia. India Stainless Steel Development Association (ISSDA) also plans to apply to the Directorate General of Trade Remedies, requesting anti-dumping duties on imports from China and Vietnam and other countries, which undoubtedly adds more uncertainty to China's stainless steel exports. In terms of cost and price, although China's stainless steel products have a certain cost advantage in the international market, this advantage is facing challenges. On the one hand, the main raw materials of stainless steel, nickel and iron, by the global raw material market supply constraints and price fluctuations, the price fluctuations. Indonesia as a global nickel reserves and production accounted for an important position in the country (nickel reserves and nickel ore production global share of 42% and 59% respectively), its export policy is frequently adjusted. 21 February, the Minister of Energy and Mines of Indonesia said that the decision to cut the nickel export quota in 2025 to maintain the stability of nickel prices; March 10, Indonesia suggested that nickel ore tax rate from a fixed 10% to 14% - 19%, ferronickel tax rate from a fixed 2% adjusted to 5% - 7%, the price of nickel and iron, the price of nickel and iron, the price of nickel and iron, the price of nickel and iron, the price of nickel and iron, the price of nickel and iron is volatile. On March 10, Indonesia proposed to change nickel ore tax rate from fixed 10% to 14% - 19%, ferronickel tax rate from fixed 2% to 5% - 7%, etc. These policy adjustments directly promote the rise of domestic stainless steel production costs. On the other hand, the domestic market competition is fierce, and the problem of overcapacity is highlighted. There are differences in the demand for stainless steel in different downstream areas, and the lack of demand in some areas has led to limited support on the demand side, while the new production capacity expected to be put into operation is rapidly releasing production, superimposed on the high row of mainstream steel mills, which makes the supply of stainless steel grow relatively faster, and the enterprises compete for market share, compete with each other on the export price, and the profit margins are constantly compressed.

In the face of heavy challenges, China's stainless steel export enterprises are also actively exploring ways to cope. Some enterprises to increase investment in technological research and development, enhance the added value of products, the production of special specifications, special materials of stainless steel products, the price of such products rose by a large margin, can effectively circumvent the ordinary products of the predicament of low-priced competition. For example, TISCO developed a high-strength corrosion-resistant stainless steel composite material TE4003C5 successfully realized the first. In the market layout, enterprises pay more attention to expand the “Belt and Road” along the countries and other emerging markets, reduce the degree of dependence on traditional markets. At the same time, some companies try to cross-border e-commerce and other emerging channels, directly to overseas end customers, reduce intermediate links, improve profit margins.