Recently released Customs statistics provide a preliminary read on China’s imports and exports of key metallurgical products for August 2026. The figures show that the country’s steel import and export volumes were broadly stable in August, while iron ore imports remained elevated but saw a noticeable decline in average import cost.

Steel Imports​
August steel imports came to 434,000 tonnes, down 11,000 tonnes (2.5%)​ from July. The average import price was US$2,002.3 per tonne, up US$49.9 per tonne (2.6%)​ month-on-month. For the first eight months of 2026, cumulative steel imports reached 3.574 million tonnes, a decrease of 421,000 tonnes (10.5% year-on-year)​ versus the same period in 2025, indicating continued contraction in domestic demand for imported steel.

Iron Ore Imports​
August iron ore imports stood at 108.539 million tonnes​ (≈108.5 million tonnes), up 454,000 tonnes (0.4%)​ from July. The average import price was US$95.5 per tonne, down US$5.1 per tonne (5.1%)​ from July. January–August imports totaled 845.271 million tonnes​ (≈845 million tonnes), up 44.418 million tonnes (5.5% year-on-year). Import volumes thus kept growing off a high base, even as downward price pressure began to emerge.

Steel Exports​
August steel exports were 10.155 million tonnes, up 34,000 tonnes (0.3%)​ from July. The average export price was US$722.2 per tonne, up US$6.5 per tonne (0.9%)​ month-on-month. Cumulative exports for the first eight months reached 75.149 million tonnes, down 2.344 million tonnes (3.0% year-on-year). Despite the lower year-to-date total, August’s modest month-on-month gain suggests export performance remains relatively stable.

Overall Assessment​
In the first eight months of 2026, both steel imports and exports ran below year-earlier levels, while iron ore imports continued to expand. August data point to resilience in steel exports and a clear “higher volume, lower price” pattern in iron ore imports. The market will need to closely monitor shifts in domestic and overseas supply-demand conditions as well as policy developments going forward.

Excerpted from Steel.com