Cranes unload imported iron ore from a cargo vessel at a port in Lianyungang, Jiangsu province, China October 27, 2019.
China, importing roughly 75% of global seaborne iron ore, recorded 592.2 million tons in the first half of 2025, a 3% drop from 2024, per customs data. June imports hit 105.95 million tons, the highest since December 2024, with July imports estimated at 101.32 million tons by Kpler, supporting price stability.
China’s steel output, over half the global total, fell 9.2% in June to 83.18 million tons, the lowest in 2025. First-half production dropped 3% to 514.83 million tons. With a 1-billion-ton annual target, second-half output may stagnate or decline, especially if steel exports face new trade barriers.
Steel exports fell 8.5% to 9.68 million tons in June from May, though first-half exports grew 9.2% to 58.15 million tons. Slower exports, economic stabilization efforts, and manufacturing uncertainties challenge the sector. Port stockpiles, at 131.05 million tons for the week ending July 25 per SteelHome, are down from 151.8 million tons last year. Global seaborne imports dropped to 136.56 million tons in July, per Kpler, reflecting weaker demand outside China.
