The latest trends and analysis of the China Steel Market. Get insights of market, key players, and future opportunities for growth. Industry Research Report

The statistic shows the demand for steel in China from 2008 and 2009 with a forecast to 2015. In 2008, Chinese steel demand was 426 million metric tons.

China's steel output dropped by 1.5% in early 2025, with exports up by 6.7%. Production expected to rise in March amidst global trade concerns.

In 2022, China produced 54 percent of the world's crude steel. The total global crude steel production volume in that year was 1.89 billion metric tons.

Steel Production in China decreased to 78900 Thousand Tonnes in February from 81900 Thousand Tonnes in January of 2025. This dataset has Steel Production values for China.

China's steel industry is under pressure with overproduction and declining demand, signaling potential industry shifts and the need for consolidation.

China Steel Industry: Other Income data was reported at 12,775.930 RMB mn in 2022. This records an increase from the previous number of 12,666.142 RMB mn for 2021. China Steel Industry: Other Income data is updated yearly, averaging 10,678.780 RMB mn from Dec 1995 (Median) to 2022, with 26 observations. The data reached an all-time high of 26,253.023 RMB mn in 2012 and a record low of 1,070.600 RMB mn in 1997. China Steel Industry: Other Income data remains active status in CEIC and is reported by National Bureau of Statistics. The data is categorized under China Premium Database’s Metal and Steel Sector – Table CN.WAH: Steel Industry: Financial Data.

China Steel Industry: Selling and Distribution Cost data was reported at 29,019.480 RMB mn in 2010. This records an increase from the previous number of 22,726.130 RMB mn for 2009. China Steel Industry: Selling and Distribution Cost data is updated yearly, averaging 7,860.300 RMB mn from Dec 1995 (Median) to 2010, with 14 observations. The data reached an all-time high of 29,132.610 RMB mn in 2007 and a record low of 2,558.000 RMB mn in 1995. China Steel Industry: Selling and Distribution Cost data remains active status in CEIC and is reported by National Bureau of Statistics. The data is categorized under China Premium Database’s Metal and Steel Sector – Table CN.WAH: Steel Industry: Financial Data.

In December 2024, China's crude steel production amounted to almost 76 million metric tons, representing a significant increase compared to the same time in the previous year. The production volume in December 2023 hit the lowest point since 2017. Significance of Chinese steel production Over the past two decades, the Chinese steel industry has increased its output significantly and has grown into the world’s largest crude steel-producing country, accounting for over half of the global production in 2023. Among the leading ten global steelmakers in 2023, six companies were from China. These large state-owned enterprises have dominated the Chinese steel industry. Baowu Group alone produced about 131 million metric tons of raw steel in 2023. Other natural resources With a total land area of 9.6 million square kilometers, China is one of the largest countries worldwide and in possession of large mineral deposits. China was by far the leading hard coal-producing country worldwide, with a hard coal production volume of almost 4.2 billion metric tons in 2022. China has been the world’s largest aluminum producer with a total smelter production of 43 million metric tons of aluminum in 2024. Also, China has the world’s largest reserves of zinc, antimony and many other nonferrous metals. Its annual rare earth production far exceeded the total for the rest of the world since the beginning of the decade.

In 2023, the global steel demand amounted to roughly 1.77 billion metric tons, representing a slight decrease compared to the previous year. This figure was projected to decline by slightly in 2024 and increase in 2025. In 2025, the demand for finished steel products was forecast to reach just above 1.77 billion metric tons. Steel plays a crucial role in numerous sectors of construction and engineering. China is the world's largest steel market China is by far the largest market for the production and consumption of steel. In China, steel is used primarily for vehicle manufacturing, construction materials, and consumer electronics. As China’s growing economy continues to demand more steel, the energy sector must work hard to keep smelters running. Much of the energy demand is met with coal combustion, contributing to high levels of carbon dioxide emissions. Producing and consuming so much steel means that the global steel industry is tied to China’s steel sector and wider economy. Steel as a material and commodity Steel products are available in many forms, including slabs, rebars, and rods; each category provides different qualities to their use. Steel consumption is either from steel scrap or virgin steel. China Baowu Steel Group Corp. was the largest steel manufacturing company as of March 2023, with sales revenues of 161.7 billion U.S. dollars. Luxembourg’s ArcelorMittal came second with over 79.8 billion revenues.

Explore the forecasted decline in China's steel demand amidst growing trade frictions, with implications for global markets and the domestic steel industry in 2025.

This statistic shows China's raw steel production from 2013 through 2021. Asia's largest economy produced over one billion metric tons of raw steel in 2021, a year-on-year dip of approximately three percent. In that year, under two billion metric tons were produced globally. Being the main resource for the production of raw steel, the mining of iron ore in China is closely linked to production output.

The online sales value of steel in China was forecasted to reach around 329 billion yuan by 2022. Currently, the e-commerce penetration rate in the steel sector stands close to 20 percent and is expected to grow further.

China Steel Industry: Total Wage data was reported at 85,993.880 RMB mn in 2010. This records an increase from the previous number of 73,984.750 RMB mn for 2009. China Steel Industry: Total Wage data is updated yearly, averaging 27,852.000 RMB mn from Dec 1980 (Median) to 2010, with 15 observations. The data reached an all-time high of 85,993.880 RMB mn in 2010 and a record low of 2,221.000 RMB mn in 1980. China Steel Industry: Total Wage data remains active status in CEIC and is reported by National Bureau of Statistics. The data is categorized under China Premium Database’s Metal and Steel Sector – Table CN.WAH: Steel Industry: Financial Data.

In the fourth quarter of 2023, the price of the flat steel in the USA reached 3479 USD/MT by December. Similarly, in China, the flat steel prices hit 1858 USD/MT in the same month. The Germany also saw flat steel prices reaching 3125 USD/MT during Q4 2023.

Explore IMARC’s newly published report, titled “Flat Steel Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data,” offers an in-depth analysis of flat steel pricing, covering an analysis of global and regional market trends and the critical factors driving these price movements.

In January and February 2025, approximately 158.35 million metric tons of crude iron ore was extracted in China. Iron ore mining in China As the world's largest iron ore importing country since 2014, China's iron ore imports amount to over one billion metric tons every year to meet its demand. Cutbacks in 2014 were likely the result of decreasing iron ore prices around the world, which fell from a high of 168 U.S. dollars per dry metric ton in 2011 to a low of an estimated 55 U.S. dollars in 2015. Iron ore prices have gradually recovered to the levels of 2014, standing at 120.6 U.S. dollars per dry metric ton as of 2023. China's steel industry Despite iron ore mining cutbacks in China and fluctuating prices, the price of steel, which is made from iron ore, has remained stable. China has remained the world’s largest crude steel producer. Among the twenty leading steelmakers worldwide, eleven are from China. As the largest crude steel producer in the world, Baowu Steel Group is state-owned and is the largest steel company in China. In 2022, Baowu Steel Group generated a revenue of over 1.09 trillion yuan.

China Steel Industry: Total Asset: Long Term Investment data was reported at 75,363.920 RMB mn in 2006. This records an increase from the previous number of 59,981.950 RMB mn for 2005. China Steel Industry: Total Asset: Long Term Investment data is updated yearly, averaging 32,120.680 RMB mn from Dec 1995 (Median) to 2006, with 11 observations. The data reached an all-time high of 75,363.920 RMB mn in 2006 and a record low of 19,277.000 RMB mn in 1995. China Steel Industry: Total Asset: Long Term Investment data remains active status in CEIC and is reported by National Bureau of Statistics. The data is categorized under China Premium Database’s Metal and Steel Sector – Table CN.WAH: Steel Industry: Financial Data.

Discover the latest trends in the demand for flat-rolled iron or steel products in China and how the market is projected to grow over the next decade. With an expected increase in market volume to 34M tons and value to $53.2B by 2035, find out what factors are driving this upward consumption trend.

China Steel Industry: Return on Capital data was reported at 2.520 % in 2001. This records an increase from the previous number of 2.470 % for 2000. China Steel Industry: Return on Capital data is updated yearly, averaging 0.980 % from Dec 1995 (Median) to 2001, with 7 observations. The data reached an all-time high of 5.200 % in 1995 and a record low of -1.960 % in 1999. China Steel Industry: Return on Capital data remains active status in CEIC and is reported by National Bureau of Statistics. The data is categorized under China Premium Database’s Metal and Steel Sector – Table CN.WAH: Steel Industry: Financial Data.

China steel prices continue to level off from mid-May heights off the back of sluggish seasonal demand, declines in domestic manufacturer steel consumption and government pledges to curb “unreasonable” demand, despite tighter climate controls on steel production. Overall, Asia-Pacific steel prices are still set to stay elevated in the medium-term with support from robust infrastructure spending, though concerns loom oversupply capacity expansions in South-East Asia and tightening of fiscal spending in China.