China’s steel exports increased by 6.3% year – on – year in the first quarter

From January to March 2025, China’s steel product exports increased by 6.3% compared with the same period in 2024, reaching 27.43 million tons. As a result, steel shipments in the first quarter rose to their highest level since 2016. This was reported by Reuters with reference to customs data.

In March, steel exports by Chinese steelmakers increased by 5.8% compared with March last year to 10.46 million tons, driven by concerns about intensified global trade tensions following U.S. President Donald Trump’s inauguration in January.

From January to March, China’s steel imports fell 11.3% year-on-year to 1.55 million tons, with March imports dropping 18.8% year-on-year to 501,000 tons. Compared with the previous quarter, China’s steel product exports fell 9.1% and imports fell 4.9%.

Compared with the same period in 2024, China’s iron ore imports in the first quarter fell by 7.8% to 285.31 million tons. In March, imports dropped to 93.97 million tons—the lowest level since July 2023. This was 0.2% lower than February 2024 and 6.7% lower than March 2024.

The decline in China’s iron ore imports in March surprised analysts, who had expected sales to recover after weather disruptions in February. At that time, a cyclone in Australia—one of the main suppliers—disrupted export plans. The figure was projected to exceed 100 million tons.

Experts predict that as mining companies accelerate deliveries to meet their annual targets, imports in April could range between 100 million and 106 million tons. This could support the raw materials market, especially amid the record growth in China’s steel exports in the first quarter of 2025.

In 2024, China’s steel output decreased by 1.7% compared with 2023 to 1.005 billion tons. At the same time, exports reached a record 110.72 million tons, an increase of 22.7% over 2023. This figure continued to grow amid weak domestic consumption. Imports stood at 6.8 million tons, a year-on-year decrease of 10%.