China’s steel exports will exceed 100 million tons in 2025 – Baosteel

China’s largest steel producer, Baoshan Iron & Steel Co (Baosteel), expects total steel exports from China to remain above 100 million tons in 2025, according to Reuters.

Baosteel Chairman Jixin Zou suggested that Chinese steel exports are likely to fall from their current high level in the fourth quarter. They will be held back by potentially higher export prices, new tax rules, and tariff barriers.

In the first seven months of this year, Baosteel exported 4.83 million tons of steel, compared to 6.07 million tons in total in 2024.

According to Baosteel General Manager Baojun Liu, the company’s monthly exports continue to grow, so the steel producer already has the capacity to export 10 million tons of steel annually.

In 2026 and 2027, the company plans to ship 15 million and 20 million tons of steel for export, respectively.

In addition, Baosteel will closely monitor measures to reduce steel production in the country and the development of an “anti-involution” policy in China to address the problem of overcapacity in the industry.

The company is also in talks with several potential partners about investing in steelmaking projects, focusing primarily on Asia, the Middle East, and North Africa, Bloomberg writes.

Baosteel seeks to invest in operations outside China to better compete on the world stage. It has already invested in a steel sheet production facility in Saudi Arabia. Late last week, the company announced that its production capacity would be 2.5 million tons, with an initial project budget of $4 billion.

“As our internationalization strategy deepens and industry trends continue to evolve, the establishment of regional or full-technology production lines overseas will become an inevitable and necessary step,” Baosteel said.

In April, the company announced plans to produce 52.6 million tons of steel in 2025 and expected a nationwide reduction in production due to external pressure on the industry, which is struggling with excess capacity and weak demand.