Posted on 15 Jan 2026
China's finished steel exports totaled 119.02 million tonnes in 2025, higher by 7.5% from 2024 and setting a new all-time high, significantly outstripping the previous record set in 2015 of 112.4 million tonnes, according to the latest data released by the General Administration of Customs (GACC) on January 14.
During December alone, China exported 11.3 million tonnes of steel, up 13.2% on month and 16% on year, the data showed. Market sources noted that some Chinese exporters had brought forward their deliveries to December to dodge the impact of China's new export licensing system which was to take effect on January 1 2026.
Last year's peak mainly resulted from the competitiveness of Chinese steel export prices, plus the constant adjustment in export product structure and destinations made by mills and traders, as reported.
In the case of hot-rolled coils (HRC) for example (one of China's most exported steel products) the export price of SS400 3mm HRC at North China's Tianjin port under Mysteel's assessment averaged $463/tonne in 2025, lower by 9.6% for coils from Japan, 11.1% below HRC from India, 14.6% cheaper than those from Turkey, and 16.8% below CIS-produced coils.
In addition, the domestic steel glut in China also led steel mills to ramp up exports to ease their warehouse pressure, as evidenced by the elevated HRC inventories at commercial warehouses nationwide by the end of last year.
As of December 31, HRC stocks in the 194 commercial warehouses nationwide tracked by Mysteel totaled 3.9 million tonnes, higher by 17% from December 26 2024.
For 2026, many sources predict that China's steel exports will experience some decline, in the face of challenges posed by EU's Carbon Border Adjustment Mechanism (CBAM), the compliance costs brought by China's export licensing system, as well as additional trade cases launched against China-origin steel.
Indeed, China ranks third in CBAM costs among the top 10 countries that exported the most steel products to the EU in 2024, according to preliminary calculation by Mysteel, as reported.
While prices for SS400 3mm HRC for export had risen to $460/t FOB at China's Tianjin port by January 13, 2026 – higher by $15/t from the end-December level – some market participants are attributing this to the disappearance of non-VAT cargoes in the export market due to Beijing's export licensing regulations.
On the import front, China's finished steel imports totaled 6.06 million tonnes last year, down by 11.1% from 2024, the GACC data showed.
Source:Mysteel Global
