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China's steel exports rose in July despite protectionist backlash

China's steel imports increased in July. This continued a record-breaking trend despite countries erecting trade barriers to prevent a flood of Chinese products.

Data from the General Administration of Customs on Thursday showed that steel exports rose by 1.7% in July from June, to 9.84 metric tons. This brings total exports for this year to 67.98 metric tons. The total for the year is at its highest level since 1990.

Steel exports by the largest steel producer in the world have led to a global protectionist backlash. Since January of last year, almost 40 countries have launched anti-dumping investigations. Vietnam and South Korea, two of the world's largest trading partners, have both imposed tariffs on steel imports from China. They claim that cheap Chinese steel is hurting their domestic producers.

As a result, Chinese steelmakers are now exporting semi-finished goods, which have lower tariffs.

IRON ORE

The data showed that imports of iron ore, the main ingredient in steelmaking, fell 1.3% to 104.62 millions tonnes in July as prices rose.

Iron ore price Prices rose by nearly 7% on July bets that they would be tolerated. Beijing's promise to clamp down on price wars had sparked hopes of a new wave of supply side reforms in the steel industry, which is plagued with overproduction.

Analysts said that higher prices have dampened the appetite of some steelmakers who are cost-sensitive and suffered losses in 2023 and 2024 due to a faltering market.

Imports also decreased as miners sent less shipments in the wake of a rush to meet quarterly targets. Cao Ying is an analyst with broker SDIC Futures. She says that some cargoes have also been delayed due to Typhoon Wipha.

Even so, China's monthly imports of iron ore from China have remained above 100 million tonnes for the third consecutive month in July.

Imports in July were down on the six-month peak of 105.95 millions tons in June but higher than 102.81 in 2024.

Chu Xinli is an analyst with China Futures. "Despite a decline in imports, the iron ore production was relatively high, driven by increased steel profitability, and thus, the imports remained high," he said.

China's imports of iron ore in the first seven months 2025 totaled 696.57 millions tons, a 2.3% decrease from the same period a year ago.

(source: Reuters)