China’s steel exports rose 9.9% year-on-year in May 2025, to 0.58 million tons, and 1.1% compared to April, according to data from the General Administration of Customs, cited by Reuters.
This is the highest figure in seven months and the third consecutive month that exports have exceeded 10 million tons. Analysts attribute this growth to the acceleration of shipping in anticipation of the imposition of new tariffs that could impact demand.
Conversely, China’s steel imports in May fell 24.5% year-on-year, to 481,000 tons.
In January – May 2025, China’s steel exports to 48.47 million tons, an 8.9% year-on-year increase, while imports fell to 2.55 million tons, a 16.1% year-on-year decline.
Regarding iron ore, seaborne shipments to China in May fell by 4.9% compared to April and by 3.8% year-on-year, to 98.13 million tons.
This decline is attributed to some steelmakers purchasing from existing stocks at ports, where larger quantities are available at lower prices, according to analysts and industry representatives.
As a result, iron ore stocks at ports fell by 2.8% to 133 million tons by the end of May, their lowest level since February 2024.
In the first five months of the year, China’s total iron ore imports fell by 5.2% year-on-year, to 486.41 million tons.
In 2024 China’s steel production decreased by 1.7% compared to 2023, to 1.005 billion tons. Meanwhile, steel exports reached a record high of 110.72 million tons, a year-on-year increase of 22.7%, while imports declined by 10.5% to 6.8 million tons.
