China Exported Over 100 Million Tons of Iron Ore in the Past 5 Years!

In the global iron ore trade landscape, China has always held an important position. Typically, people are more familiar with China's role as the world's largest iron ore importer. However, China's performance in iron ore exports is also noteworthy.

According to data released by the International Trade Centre (ITC), China's iron ore export volume reached 246.06 million tons in 2024, a 15% increase compared to 2023. This achievement places China seventh among the world's iron ore exporting countries. Ahead of China are:

Australia, with an export volume of 9.11 billion tons in 2024, firmly in the lead.

Brazil, with 3.89 billion tons.

South Africa, with 618.18 million tons.

Canada, with 607.18 million tons.

India, with 358.87 million tons.

Ukraine, with 337 million tons.

Following China are:

Peru, with 230.68 million tons.

Chile, with 151.66 million tons.

Looking at a longer time span, since 2018, China's iron ore export volume has exceeded 100 million tons. Subsequently, it has continued to rise, reaching over 200 million tons by 2021. Over the past 5 years (2019-2024), China's cumulative iron ore exports have reached an astonishing 1.07 billion tons. In terms of export destinations, Japan is one of the main receiving countries, with China exporting 762.6 million tons of iron ore to Japan during this period, accounting for 71%. Exports to Taiwan reached 287.35 million tons, accounting for 26.8%, and exports to South Korea totaled 98.9 million tons, accounting for 9.2%.

Looking at the latest dynamics for this year, according to data from the General Administration of Customs, in the first 2 months of 2025, China exported 413 million tons of iron ore, an increase of 9.1% compared to the same period last year. In terms of trade methods, the main approach involves goods entering and exiting bonded areas under customs supervision.

China's domestic steel industry has a massive demand for iron ore, which is the primary reason why China has long been a major iron ore importer. In recent years, China's iron ore imports have remained high, reaching 12.37 billion tons in 2024, a year-on-year increase of 4.92%. Meanwhile, domestic iron ore production has also been increasing, reaching 10.42 billion tons in 2024, a year-on-year increase of 5.15%.

Given such a large import demand, why does China still export iron ore? In fact, some ports in Shandong, Liaoning, and other provinces have strong ore blending capabilities. Some iron ore, upon arrival in China, undergoes blending processes before being shipped to nearby countries. This trade operation model creates a unique situation in China's iron ore import and export trade.