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China’s largest listed steelmaker, Baoshan Iron & Steel Co. (Baosteel), expects the country’s steel exports to remain above 100 million metric tons in 2025, even as authorities consider output restrictions.
Baosteel chairman Jixin Zou said exports may soften in the fourth quarter due to higher prices, new tax rules, and tariff barriers. Still, demand has been strong—China’s steel exports jumped 11.4% in the first seven months of 2025, hitting record highs despite global trade frictions.
Baosteel alone shipped 4.83 million tons in the same period, compared with 6.07 million tons in all of 2024. The company’s general manager Baojun Liu noted that monthly exports are still rising, giving Baosteel the capability to export 10 million tons annually. The company aims to expand this to 15 million tons by 2026 and 20 million tons by 2028.
At the same time, Baosteel will monitor government plans to cut excess capacity and enforce policies against aggressive price wars. China’s leadership has pledged to reform sectors such as steel and coal, where oversupply has pushed prices down and triggered global protectionist pushback.
Despite weaker domestic demand, Baosteel reported a 7.4% rise in first-half net profit, supported by export growth.
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