China’s steel exports and iron ore imports reached all-time highs in 2025, intensifying global trade tensions and prompting several importing countries to adopt more protectionist measures.
Data from the General Administration of Customs showed that China exported 119.01 mln tons of steel last year, up 7.5pct YoY, surpassing the previous record of 112.4 mln tons set in 2015.
Exports surged particularly in December, when shipments climbed to a new monthly record of 11.3 mln tons, exceeding the prior high recorded in September 2015. December exports were up 16.2pct YoY and 13.2pct month on month, as exporters rushed to ship cargoes ahead of the introduction of a new steel export licensing regime effective January 1, 2026.
In contrast, China’s steel imports continued to decline. Total steel imports fell 11.1pct YoY to 6.05 mln tons in 2025, including 517,000 tons in December, down 16.7pct from a year earlier.
China’s iron ore imports also set a new record in 2025, rising 1.8pct YoY to 1.258 bln tons, surpassing the previous high recorded in 2024. December iron ore imports reached 119.65 mln tons, up 6.4pct YoY and 8.2pct from November, marking one of the strongest monthly intakes on record.
Looking ahead to 2026, market participants expect China’s steel exports and iron ore imports to moderate. Rising protectionism, Beijing’s push to boost domestic consumption, the rollout of the new export licensing regime, and the government’s so-called anti-involution policy, aimed at curbing overproduction and destructive competition, are likely to weigh on steel output.
