China reduced iron ore production by 12% y/y in January-April

In January-April 2025, Chinese mining companies reduced iron ore production by 12.2% compared to the same period in 2024, to 328.6 million tons. This is evidenced by data from the National Bureau of Statistics of China (NBS), SteelOrbis reports.

In April, ore production in the country amounted to 84.7 million tons, down 4.9% year-on-year.

At the same time, prices for imported raw materials fluctuated within a limited range as of the end of April. The lowest level ($96/t) last month was observed on April 8-9, and the highest ($104/t) on April 1-2.

As a reminder, in April 2025, sea shipments of iron ore to China reached 103.14 million tons, up 9.8% m/m and 1.3% y/y. The average price decreased by 13.3% y/y – to $98.1/t. During the month, demand for iron ore remained high due to active production plans of steelmakers.

In January-April, imports of iron ore decreased by 5.5% y/y – to 388.36 million tonnes, while the average price per tonne fell by 18.6% y/y – to $98.9.

As GMK Center reported earlier, Chinese steelmakers produced 345.35 million tons of steel in the first four months of 2025, up 0.4% year-on-year. This growth was recorded despite Beijing’s plans announced in March to restructure the steel sector by limiting production. However, the authorities have not yet released details on the timing and extent of the restrictions.