In 2024, China’s finished steel exports rose by 22.7 percent year on year to 110.716 million mt, compared to a 22.6 percent increase in the first 11 months of the year. The 2024 figure represents a nine-year high, after steel exports peaked at 112 million mt in 2015. The total figure for 2024 was even higher than most analysts’ expectations of 107-109 million mt, as shipments were high in December, following lively sales in October and November.
In December last year, China’s finished steel exports amounted to 9.727 million mt, up 4.8 percent month on month and rising by 25.8 percent year on year, according to the latest data released by China's General Administration of Customs (GACC). The increased number of investigations against Chinese steel will impact the total export volume in 2025, but it is expected to remain at relatively high levels of 90-95 million mt or so, according to market expectations.
China’s finished steel imports totaled 621,000 mt in December last year, up 32.1 percent month on month and declining by 5.9 percent year on year. In the full year of 2024, China imported 6.815 million mt of finished steel, declining by 10.9 percent year on year.
