According to data released by the General Administration of Customs on March 7, from January to February 2025, China exported a total of 16.972 million tons of steel, a year-on-year increase of 6.7%, showing a certain resilience. During the same period, China imported a total of 1.05 million tons of steel, a year-on-year decrease of 7.2%, and the average import price was US$1,637.5 per ton. From January to February, China imported a total of 191.361 million tons of iron ore and its concentrate, a year-on-year decrease of 8.4%; the total import of coal and lignite was 76.119 million tons, a year-on-year increase of 2.1%.

In terms of export value, from January to February, China's steel exports totaled US$12.11 billion, a year-on-year decrease of 3.9%. Based on this calculation, the average export price of steel was US$713.4 per ton, a year-on-year decrease of 9.9%. Although the export volume is increasing, the decline in export value and average price reflects that Chinese steel is facing pressures such as price competition in the international market.

In 2024, China exported 110.716 million tons of steel, reaching the second highest level in history, an increase of 22.7% year-on-year. Entering 2025, although the export volume continued to grow in January and February, the market environment is still complicated. On the one hand, China's steel export price advantage still exists. According to the monitoring data of the Lange Steel Research Center, as of March 6, 2025, the export prices (FOB) of hot-rolled coils in India, Turkey and the CIS were US$492/ton, US$525/ton and US$485/ton, respectively, and the export price (FOB) of hot-rolled coils in China was US$467/ton, which was US$25/ton, US$58/ton and US$18/ton lower than the above regions, respectively. On the other hand, although the global manufacturing index is recovering steadily, the prosperity of external demand is still weak. The export order index of China's steel industry is running in a contraction range, and the trade sanctions faced by the steel industry have intensified, which will further inhibit the export of steel.

Since 2025, many countries have launched anti-dumping investigations against China's steel industry. From January to February, Peru, the United States, Malaysia and Colombia launched five related investigations. A series of tariff increase policies by the United States and restrictive measures taken by India, South Korea, Vietnam and other countries have made the external environment for China's steel exports increasingly severe. For example, on February 20, South Korea decided to impose temporary anti-dumping duties on thick plates imported from China, with tax rates ranging from 27.91% to 38.02%; on February 21, Vietnam decided to impose temporary anti-dumping duties of 19.38% to 27.83% on certain hot-rolled steel products originating in China, which will take effect from March 8.

Considering the high base of steel exports in March 2024 (9.89 million tons) and the current intensification of trade protectionism, some analysts believe that steel exports in March 2025 may face downward pressure year-on-year. However, the China Iron and Steel Association pointed out in its December monthly report on steel product imports and exports that it is expected that the momentum of steel exports will remain strong in the first half of 2025. The subsequent trend of China's steel exports still needs to pay attention to the global economic situation, changes in trade policies, and adjustments in the supply and demand pattern of the domestic and foreign steel markets.