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| China Steel Exports |
In January-August 2025, China’s steel exports grew by 10% year-on-year, reaching a total of 77.49 million tons, according to the China Iron and Steel Association (CISA). This growth occurred despite rising anti-dumping measures by key markets like Vietnam and South Korea. Meanwhile, iron ore imports saw a modest decline, decreasing by 1.6% compared to the previous year.
Strong Demand Despite Market Challenges
The surge in steel exports is largely attributed to China’s consistent steel production output and its ongoing global market competitiveness. In August 2025, steel shipments amounted to 9.51 million tons, showing a 3.3% month-on-month decrease. However, the price of steel fell slightly by 0.6%, standing at $698 per ton. Despite the dip in August shipments, overall trends point to the stability of China’s steel export sector.
This uptick in exports comes at a time when key markets are tightening anti-dumping regulations. However, China’s steel producers have managed to maintain stable international shipments, thanks to attractive pricing and competitive production capabilities. This was also bolstered by high pig iron production, which remained at over 2 million tons per day, providing the necessary raw materials to support sustained steel output.
Iron Ore Imports Show Resilience Amid Price Fluctuations
China’s iron ore imports, however, have experienced a slight dip in the first eight months of 2025. Total iron ore imports reached 801.62 million tons, marking a 1.6% year-on-year decrease. Despite this, the pace of decline slowed down compared to the 2.3% drop in January-July 2025. Notably, iron ore imports rebounded in August 2025, with a 0.6% increase from the previous month and a 3.8% year-on-year rise to 105.23 million tons.
The sharp decline in iron ore prices during the second quarter played a key role in stimulating buyer interest. Prices fell below the psychological $100/ton mark, making it more attractive for Chinese producers to maintain ore purchases above the 100 million ton threshold. This trend continued through the summer months, supported by strong demand in preparation for the seasonal peak in steel production.
Global Trends and Impact on the Chinese Market
China’s overall steel production showed a decline in 2024, down 1.7% compared to 2023, totaling 1.005 billion tons. Despite this, steel exports in 2024 hit a record 110.72 million tons, representing a 22.7% increase from 2023. The rise in exports amidst weaker domestic consumption reflects China’s strategic focus on global markets to offset slower internal demand.
The growth in steel exports can be viewed as part of a broader trend where China, despite domestic challenges, is increasingly relying on international demand to bolster its steel sector. This reliance on external markets is likely to continue in 2025, as global steel demand remains a key driver for Chinese steelmakers.
ScrapInsight Commentary:
China’s steel exports have shown robust growth despite regulatory challenges, with a strong export performance in the face of weaker domestic demand. The country’s resilient iron ore imports, driven by favorable pricing and high production levels, suggest continued market stability. The outlook for China’s steel industry remains positive, with potential for further price fluctuations and export growth in the short term.
