On September 1st, new data released by the China Iron and Steel Association (CISA) revealed that China's steel exports in July 2026 totaled 10.121 million tonnes. This figure represents a 1.9% decrease from the previous month but marks a 2.9% increase compared to the same period last year. The average export price for the month stood at 715.7 US dollars per tonne, reflecting a 0.7% uptick month-on-month and a 1.9% rise year-on-year.

Looking at the cumulative figures for the first seven months of this year, total steel exports reached 64.995 million tonnes, a year-on-year decline of 4.4%. The cumulative average export price was 703.4 US dollars per tonne, showing a modest increase of 0.6% compared to the same span in 2025.

On the import side, China brought in 445,000 tonnes of steel in July, up 0.9% from the previous month but 1.7% lower year-on-year. The average import price for these goods was 1,952.4 US dollars per tonne, rising 1.4% month-on-month and 8.2% year-on-year. For the January-July period, cumulative steel imports totaled 3.14 million tonnes, down 10.1% year-on-year, with the average import price climbing 5.8% to 1,818.9 US dollars per tonne.

Overall, exports of both finished steel and billets remained at elevated levels in July. Notably, finished steel exports have now exceeded 10 million tonnes for three consecutive months, while the average export price recovered slightly from the previous month. Meanwhile, billet exports have topped 2 million tonnes for two straight months.

Overview of Primary Steel Product Trade

In July 2026, exports of primary steel products (encompassing billets, pig iron, direct reduced iron, and recycled ferrous feedstocks) amounted to 2.56 million tonnes, a decrease of 10.8% from June. The average export price for these materials held steady month-on-month at 477.0 US dollars per tonne. Over the first seven months of the year, cumulative exports of these primary inputs reached 12.198 million tonnes, a substantial year-on-year surge of 62.8%, with the average price ticking up 3.0% to 463.4 US dollars per tonne.

Imports of primary steel products in July were 196,000 tonnes, a sharp 47.4% drop month-on-month, though the average import price jumped 36.8% to 661.9 US dollars per tonne. For the January-July window, cumulative imports of these materials shot up 87.2% year-on-year to 1.878 million tonnes, while the average import price declined by 29.0% to 539.0 US dollars per tonne.

Breakdown of Finished Steel Exports

The momentum for finished steel exports continued in July, marking the third consecutive month above the 10 million tonne threshold, with a month-on-month dip but a year-on-year gain. Analyzing by product type, long steel products demonstrated notable resilience, while flat products faced downward pressure with divergent trends among sub-categories. Billet exports remained at high levels during the month.

Regionally, export performance across ASEAN nations was mixed. Shipments to the Gulf Cooperation Council (GCC) countries weakened persistently, whereas exports to Turkey posted a staggering month-on-month increase of more than 100%.

Performance by Product Category

Examining the 22 major steel categories, 11 saw month-on-month increases in export volumes during July, with ten categories each shipping over 500,000 tonnes. Among the gainers, exports of heavy steel plates and extra-thick plates each surged by more than 60% month-on-month, while electrical steel sheets (strips) and bars both grew by over 20%. Conversely, exports of railway materials, rebar, and medium-heavy wide steel strips each fell by more than 20% from June.

For the first seven months, coated sheets (strips) retained their position as the top export category, accounting for 17.8% of total finished steel exports. Ten categories registered year-on-year growth during this period; notably, bars, seamless tubes, and heavy plates all swung from negative to positive cumulative growth compared to the January-June figures. Medium-heavy wide steel strips, however, continued to see a cumulative export decline exceeding 30%.

In July, 13 product categories experienced declines in their unit export prices. Electrical steel sheets (strips) suffered the most significant drops, falling 9.6% month-on-month and 20.5% year-on-year. On the other hand, heavy plates posted the largest monthly price gain, rising 10.2%. Over the January-July period, nine categories saw year-on-year decreases in their average export prices.

As for billets, July exports retreated slightly to 2.526 million tonnes, down 11.0% month-on-month but remaining above the 2 million tonne mark for a second consecutive month. The unit export price remained virtually flat, ticking down just 0.04%. Cumulative billet exports for the first seven months jumped 62.2% year-on-year to 12.12 million tonnes, with the average price up 3.2%.

Regional Export Trends

July showed a highly differentiated landscape for steel export destinations. Shipments to Turkey rocketed by 115.3% month-on-month, while exports to the Philippines and Vietnam grew by 20.7% and 14.2%, respectively. In contrast, exports to Indonesia, Saudi Arabia, Malaysia, and Thailand all declined, with falls of 31.2%, 26.5%, 25.0%, and 21.5%, respectively.

Accumulated figures for January-July reveal that exports to ASEAN turned positive year-on-year, registering a modest 0.1% increase. While exports to the European Union grew 1.3% year-on-year, this pace slowed considerably compared to the 1-6月 period, narrowing by 9.5 percentage points. Exports to the GCC region tumbled by 34.8% year-on-year. Looking at specific countries, notable year-on-year declines were observed in shipments to Vietnam, South Korea, Saudi Arabia, and Turkey. In contrast, exports to Nigeria surged by 24.8%, marking it as the standout growth market within Africa.

Concerning billets, export flows to primary destinations diverged in July following the month-on-month pullback. Increases were recorded for shipments to Indonesia, Saudi Arabia, and the Philippines, while exports to Thailand and Malaysia each plummeted by nearly 50% from the prior month. Double-digit monthly decreases were also observed for destinations including Italy, Oman, the United Arab Emirates, Djibouti, and the Taiwan region of China.

During the January-July span, among the top ten billet export destinations, only the Philippines experienced a year-on-year decrease. All other significant markets posted robust gains. Notably, Oman recorded its first-ever billet imports from China during this period, given its zero base in the previous year, and is thus classified as a new market.