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China’s exports of steel and aluminium have moved in sharply different directions this year, underscoring shifting demand patterns at home and abroad. According to customs data, China’s steel product exports rose 6.7% year-on-year to 107.72 million tonnes in the first 11 months of 2025, as mills pushed more material overseas amid weak domestic demand, particularly from the troubled property sector. At this pace, total exports could reach about 117 million tonnes for the full year, surpassing the previous record set in 2015.
Steel shipments have been supported by very competitive prices, with Chinese rebar trading near five-year lows on the Shanghai Futures Exchange, making exports attractive to buyers across Asia with limited local production capacity. This strength has persisted despite trade measures and tariffs imposed by several importing countries to protect their own producers.
In contrast, exports of refined aluminium and aluminium products fell 9.2% to 5.59 million tonnes over the same period. Strong demand from China’s manufacturing and energy sectors, combined with output running close to the government’s 45-million-tonne annual cap, has tightened the volume available for export. The reduced Chinese supply has helped lift benchmark aluminium prices in London to their highest levels since May 2022, offering some relief to Western smelters.
Also Read : China’s Crude Steel Demand to Fall to 850 Million Tonnes in 2025: MC-CCPIT CISA mills’ daily steel output surge 0.81% in mid-May
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