In the January-May period this year, China’s finished steel exports amounted to 44.554 million mt, decreasing by 8.1 percent year on year, 1.6 percentage points slower than the decreasing pace recorded in the first four months this year, according to the latest data released by China's General Administration of Customs (GACC). The decline is the expected result of the implementation of China’s new export license policy starting from January 2026, which has exerted a negative impact on finished steel exports. However, the absence of Iranian steel from export markets provided support for China’s finished steel exports in the first five months.
In May alone, China’s finished steel exports amounted to 10.341 million mt, recovering by 8.9 percent month on month, though down 2.2 percent year on year.
In the given month, finished steel exports showed a recovery, signaling that Chinese finished steel remained competitive in the international market. However, the reality of an 8.1 percent year-on-year decline in exports in the January-May period indicates that exports in 2026 still face considerable downward pressure.
In the first five months this year, China’s finished steel imports totaled 2.255 mt, down 12.2 percent year on year. In May this year, China’s finished steel imports came to 451,000 mt, down 3.0 percent month on month, while decreasing by 6.2 percent year on year.