China reduced steel exports by 8.1% y/y in January-February

In January-February, China reduced steel exports by 8.1% year-on-year – to 15.59 million tons, according to the China Iron and Steel Association (CISA), citing customs data.

In February alone, exports amounted to 7.84 million tons, which is 1.1% more than in the previous month. The average price of these exports was $729.1/ton (+6.7% month-on-month).

Steel imports to the country in the first two months of this year decreased by 21.7% year-on-year – to 827,000 tons.

Iron ore imports to China in the first two months of this year increased by 10% year-on-year – to 210.02 million tons. As Reuters notes, the increase was due to growth in Australian supplies and higher domestic demand.

In February, ore imports amounted to 97.64 million tons (-13% compared to the previous month), with an average price of $101.3/ton.

It should be noted that China increased its steel exports by 7.5% y/y in 2025 – to a record 119.02 million tons. Foreign supplies helped the country compensate for the slowdown in domestic demand. Steel imports to China last year amounted to 6.06 million tons, down 11.1% y-o-y.

As reported by GMK Center, China introduced export licenses for a wide range of steel products in 2026. As announced, cast iron, semi-finished products, flat and long rolled products, as well as pipes and rail products will be subject to control.