In the first three months of 2025, China demonstrated significant growth in metal product exports, increasing it by 6.3% compared to the same period last year. The revenue reached 27.43 million tons, the highest figure since 2016. This was reported by Reuters, citing data from the country’s customs service.
This is reported by Бізнес • Медіа
Growth in Steel Exports and Import Dynamics
In March, steel exports from China rose by 5.8% compared to last year, reaching 10.46 million tons, amid concerns about escalating tensions in global trade following Donald Trump’s inauguration as President of the United States in January. At the same time, steel imports for the first quarter decreased by 11.3%, totaling 1.55 million tons, while in March, they fell by another 18.8% to 501 thousand tons.
For the first three months of 2025, the volume of metal product exports from China decreased by 9.1%, while imports dropped by 4.9% compared to the previous quarter.
Decline in Iron Ore Imports and Outlook for April
The volume of iron ore imports into China for the first quarter decreased by 7.8%, amounting to 285.31 million tons. In March, it fell to the lowest level since July 2023, totaling 93.97 million tons, which is 0.2% less than the previous month and 6.7% less than March 2024. Analysts attribute this decline to weather conditions, particularly cyclones in Australia, one of the main suppliers of the resource. Chu Xinli, an analyst at China Futures, noted:
“March volumes did not meet our expectations. The reason is likely the prolonged impact of weather disruptions in February”
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The decline in imports led to a 2.6% reduction in stockpiles at port terminals and supported a 2.5% increase in iron ore prices. Experts predict a recovery in supplies in April, with some shipments already having cleared customs, suggesting that imports could exceed 100 million tons. Senior analyst at Mysteel, Steven Yu, stated: “We expect that in April, imports will range from 100 to 106 million tons, as mining companies accelerate shipments to meet annual targets”.
The market situation is supported by a high level of steel exports in the first quarter of 2025. For the year 2024, China reduced domestic steel production by 1.7% to 1.005 billion tons, but the record export level reached 110.72 million tons, which is 22.7% more than in 2023, attributed to weak domestic consumption. Steel imports in 2024 amounted to 6.8 million tons, decreasing by 10% compared to the previous year.