China’s 2025 iron ore imports set to hit new high even as steel demand dwindles

By Amy Lv and Lewis Jackson – Reuters

China’s iron ore imports are likely to hit a new high in 2025 as traders stockpile cheap ore for the world’s top consumer despite a protracted property crisis continuing to weigh on Chinese steel demand, traders and analysts said.

The country’s imports of the key steelmaking ingredient will likely rise by between 10 million and 40 million metric tons to up to 1.27 billion tons this year, up from what forecasters expect to be record volumes in 2024, seven analysts and two traders said in a Reuters survey.