According to the National Bureau of Statistics of China, domestic iron ore production fell by 10.1% year-on-year in January–May 2025, totaling 414.32 million tons. In May alone, output stood at 85.79 million tons, down 3.6% annually but slightly higher than April’s volume by 1.3%.
Import prices for iron ore showed volatility throughout May, peaking at $102 per ton mid-month before dropping to $96 at month’s end. Correspondingly, China’s seaborne iron ore imports dipped to 98.13 million tons in May, a 4.9% decline from April and 3.8% lower than the same month in 2024. Port inventories also shrank by 2.8% to 133 million tons—the lowest level since February 2024.
Total iron ore imports for the first five months reached 486.41 million tons, 5.2% below last year’s figure. Meanwhile, Chinese steel production fell 6.9% year-on-year in May to 86.55 million tons. From January through May, cumulative steel output dropped 1.7%, totaling 431.63 million tons.
The China Iron and Steel Association projects a 4% decrease in overall steel output in 2025, reflecting state-led efforts to transition away from heavy industry and address persistent overcapacity.
