From January to July 2025, China exported a total of 7.4 million tons of semi-finished steel products to the global market, a significant increase of 320% compared to the same period last year.

According to Bloomberg, the main body of this surge in exports is steel billets, which now occupy an important position in global trade. Analysts say that weak domestic demand, especially in the construction and real estate industries, is the main reason for the export growth this time. The export volume of semi-finished steel products, which previously accounted for a small proportion of China's total steel exports, reached 1.5 million tons in July, accounting for 14% of the total export volume for that month.

Countries like Vietnam and South Korea have already implemented anti-dumping measures against finished products; However, these measures do not cover semi-finished products, which has led to a shift in trade towards this direction.

Destination route: Southeast Asia and the Middle East

The export products mainly flow to Southeast Asia and the Middle East. Indonesia is the largest buyer with an import volume of 1.14 million tons, followed by the Philippines with slightly less than 1 million tons. Türkiye, Italy and Saudi Arabia are also among the major importers.

Trade negotiations with the United States have begun

Despite the continuous increase in the export volume of semi-finished steel products, China still sent a high-level delegation to Washington. Chinese Vice Minister of Commerce and Trade Envoy Li Chenggang will meet with US Trade Representative Jefferson Greer and officials from the Ministry of Finance. Li Chenggang also plans to meet with American business leaders.

Jeremy Chen, a senior analyst at Eurasia Group, said, "The focus of the meeting between Li and Greer should be on trade and tariff issues rather than technical issues." He also called China's delegation a "positive signal of progress in trade relations.