[SMM Analysis] August Steel Exports Data Interpretation

[SMM Analysis] August Steel Exports Data Interpretation

• By country, Saudi Arabia recorded the largest YoY increase, while Vietnam saw the largest YoY decrease.

According to data compiled by SMM from the General Administration of Customs, China's cumulative steel exports from January to August 2025 reached 86.737 million mt, up 18.73% YoY. Saudi Arabia saw the largest cumulative increase, up 1.5224 million mt YoY, a rise of 61.66%. Among all steel product categories exported to Saudi Arabia, HRC dominated, accounting for 23%, followed by medium-thickness plates at 18%, while coated products and steel billet also held significant shares at 18% and 15%, respectively.

Data source: General Administration of Customs, SMM

Although Vietnam remained the top destination for China's steel exports by cumulative volume, with total exports reaching 6.2882 million mt, it experienced the largest YoY decline, down 20.63%. The primary reason for this change is Vietnam's increasingly stringent anti-dumping measures against Chinese steel products, with five case rulings issued so far this year. On September 18 this year, Vietnamese enterprises once again filed an application for an anti-circumvention investigation into HRC from China, indicating that China's exports of hot-rolled wide coil to Vietnam may also face sanctions in the future, and the volume of steel exports from China to Vietnam is expected to continue decreasing.

Data source: General Administration of Customs, SMM

Ø By product, steel billet recorded the largest increase, while HRC saw the largest decline.

According to data compiled by SMM from the General Administration of Customs, China exported 11.275 million mt of steel products in August 2025, of which steel billet exports totaled 1.7649 million mt, accounting for 15.65% of the country's total exports. Although this represents less than one-fifth of the total, the cumulative increase from January to August this year was as high as 291%, far exceeding that of other products. Steel billet currently faces fewer trade sanction measures, with no more than five cases from 2023 to date. The latest related case announcement involves Egypt initiating a safeguard investigation into imported steel billet. However, China's total exports of steel billet to Egypt from January to August amounted to 304,900 mt, accounting for only 3.3% of China's total steel billet exports during the same period. The proportion is relatively small, so even if subsequent sanctions are implemented, the actual impact on China's steel billet exports will be relatively small, and there is no need for excessive concern.

Data source: General Administration of Customs, SMM

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