China Steel Exports Fall 6.1% to 9.85M Tonnes in October
China exported 9.85 million tonnes of finished steel in October 2026, down 6.1% from September but 0.7% higher year over year, while January-October shipments fell 2.3% to 95.5 million tonnes.
- October steel exports: 9.85 million tonnes, down 6.1% m/m and up 0.7% y/y.
- January-October exports: 95.5 million tonnes, down 2.3% y/y.
- October steel imports: 395,000 tonnes, down 19.7% m/m and 21.5% y/y.
- January-October steel imports: 4.46 million tonnes, down 11.6% y/y.
- January-October iron ore imports: 1.06 billion tonnes, up 3.1% y/y.
China's finished-steel exports pulled back in October after rising above 10 million tonnes in September, according to General Administration of Customs data reported by SteelOrbis.
October shipments totaled 9.85 million tonnes, down 6.1% from 10.49 million tonnes in September. Compared with October 2025, however, exports were still 0.7% higher.
For January-October, Chinese steelmakers exported 95.5 million tonnes of steel products, down 2.3% from the corresponding period of 2025.
October Breaks the Recent Export Momentum
September had been a stronger month for Chinese steel exports, with shipments rising 3.3% month over month to 10.49 million tonnes.
January-September exports totaled 85.64 million tonnes, down 2.6% year over year.
The October figures therefore show two different trends: monthly shipments weakened from September, while the year-to-date decline narrowed slightly from 2.6% after nine months to 2.3% after ten months.
China Still Exports Far More Steel Than It Imports
October's export decline looks significant month over month, but the scale of China's outbound steel trade remains extremely large compared with its imports.
- Exports: 9.854 million tonnes
- Imports: 395,000 tonnes
- Calculated export/import ratio: about 24.9 to 1
- Exports vs. September: -6.1%
- Imports vs. September: -19.7%
SteelPrices calculation: October exports of 9.854 million tonnes were approximately 24.9 times the country's finished-steel imports of 395,000 tonnes.
This comparison illustrates the scale of China's steel trade flows. It should not be read as a value comparison because export and import volumes can contain very different products, grades and price levels.
Steel Imports Fall More Sharply
China imported 395,000 tonnes of finished steel in October, down 19.7% from September and 21.5% from a year earlier.
January-October imports totaled 4.46 million tonnes, down 11.6% year over year.
The decline reinforces the large difference between China's inbound and outbound finished-steel flows.
Iron Ore Imports Move in the Opposite Direction
China's iron ore trade followed a different pattern.
Iron ore and concentrate imports totaled 105.65 million tonnes in October, down 3.8% from September and 5.1% year over year.
Despite the monthly decline, January-October iron ore imports reached approximately 1.06 billion tonnes, up 3.1% from the corresponding period of 2025.
The figures show that China's intake of its main steelmaking raw material remains high even as finished-steel exports are slightly below last year's level.
The two statistics should not be treated as directly interchangeable: iron ore imports reflect raw-material demand and inventory decisions, while finished-steel exports reflect downstream production, product mix, domestic demand and overseas sales.
Also Read
- China Steel Exports Rise 3.3% to 10.49M Tons
- China Steel Industry Shifts Toward Higher-Value Products
China's Steel Industry Is Also Changing Its Product Mix
The trade figures come as China's steel industry is being pushed toward tighter production discipline, greater efficiency and higher-value products.
China Iron and Steel Association data previously reported by SteelPrices showed crude steel output falling 2.9% year over year to about 725 million tonnes in January-September, while domestic steel consumption declined 3.8%.
Government agencies and the steel association are encouraging producers to align output more closely with actual demand and profitability while increasing production of higher-performance and specialized steel grades.
October's export decline does not by itself establish that this structural shift is reducing overseas shipments. The customs data only show that monthly exports fell from September and that cumulative exports remained modestly below the 2025 level.
Source: SteelOrbis, citing the General Administration of Customs of China.
Explore More
Latest SteelPrices Steel Market News
