China’s product steel exports has been rising with over 25% growth so far in 2025. In a recent weekly report, shipbroker Banchero Costa said that “steel products are one of the most important dry bulk commodities, accounting for almost 4 percent of all seaborne dry bulk trade. Total seaborne exports of steel products on bulkcarriers increased in Jan-Dec 2024 by +11.6% year-onyear to a record 215.8 mln tonnes, according to vessel tracking data from AXS Marine. In the first 8 months of 2025, global steel products trade increased further by +10.4% y-o-y to 155.4 mln tonnes, up from 140.8 mln t in the same period of 2024”.

Source: Banchero Costa

According to the report, “the largest exporter of steel products by far is China, which accounted for 32.7% of global steel products exports in Jan-Aug 2025. In Jan-Aug 2025, shipments from China increased by +25.1% y-o-y to 50.9 mln tonnes, and this followed on the +23.0% y-o-y growth in the same period of last year. Exports from China were now almost double the 28.2 mln tonnes exported in Jan-Aug 2022. In second place is Japan, which accounted for 11.7% of global steel products exports in Jan-Aug 2025. In Jan-Aug 2025, steel products exports from Japan increased by +9.3% y-o-y to 18.2 mln tonnes. Volumes out of Japan have been fairly constant, with 17.5 mln t in Jan-Aug 2023, 17.6 mln t in Jan-Aug 2022, 18.0 mln t in Jan-Aug 2021. In third place is South Korea, with a 10.2% share in Jan-Aug 2025. In Jan-Aug 2025, South Korea exported 15.9 mln tonnes of steel products, up +11.3% y-o-y from the 14.3 mln t in Jan-Aug 2024. The European Union is in fourth place with an 8.5% share. In Jan-Aug 2025, steel exports from the EU increased +2.6% y-o-y to 13.3 mln t. Russia is in fifth place, with a 8.2% share. Volumes out of Russia increased by +3.5% y-o-y in Jan-Aug 2025 to 12.7 mln tonnes, but this followed declines of -10.0% in JanAug 2024, -5.0% in Jan-Aug 2023, -10.7% y-o-y in Jan-Aug 2022”.

Banchero Costa added that “in terms of imports, the top destination for steel products in JanAug 2025 was still the European Union, accounting for 14.6% of global steel products imports. Imports to the EU declined by -5.1% y-o-y in Jan-Aug 2025 to 22.8 mln tonnes. This was above the 21.7 mln t in Jan-Aug 2023 but below the 23.7 mln t in Jan-Aug 2022. Outside Europe, the largest importers were the USA, accounting for 9.4% of global steel imports. Imports to the USA increased by +1.2% y-o-y in Jan-Aug 2025 to 14.6 mln t. In third place was Turkey, accounting for a 5.0% share and 7.8 mln t in JanAug 2025, and marginally behind was Vietnam with 7.0 mln tonnes”.

Source: Banchero Costa

“Let’s now focus specifically on China, which as we mentioned above is the world’s largest exporter of steel products with a 32.7% share. Top steel products loading ports in China in Jan-Aug 2025 were: Tianjin (15.8 mln t in Jan-Aug 2025), Shanghai (7.0 mln t), Bayuquan (6.8 mln t), Tangshan (3.8 mln t), Zhangjiagang (3.5 mln t), Caofeidian (2.3 mln t), Lanshan (1.9 mln t). 63.2% of steel products exports from China in 2025 were loaded on Supramaxes, 18.1% on Handies, 10.1% on units smaller than 20k dwt. The vast majority of steel exports from China are shipped to nearby Asian destinations and to the Middle East region. The top destination for Chinese steel is South Korea, accounting for 7.6% of Chinese steel exports in 2025. Volumes from China to South Korea surged by +20.7% y-o-y in Jan-Aug 2025 to 3.8 mln tonnes. In second place is the UAE, accounting for 6.3% of Chinese steel exports, or 3.2 mln tonnes. In third place was Vietnam accounting for 6.2% and 3.2 mln tonnes. Further down were Indonesia with 3.0 mln t, Saudi Arabia with 2.2 mln t, Philippines with 2.2 mln t, the Malaysia with 2.1 mln t, the EU with 1.8 mln t, Turkey with 1.7 mln t.
Nikos Roussanoglou, Hellenic Shipping News Worldwide