China Iron Ore Imports Surge to 113 Million Tons in October 2025

China Iron Ore Imports Reach Historic Levels

China’s iron ore imports continue their upward trajectory despite a slowdown in domestic steel production. Analysts from Kpler estimate shipments to reach 113.06 million tons in October 2025. This would become the second-highest monthly import volume after September’s record of 116.33 million tons. The strong import activity highlights the persistence of Chinese buyers, even as domestic steel mills reduce output.

China dominates global seaborne iron ore demand, accounting for approximately 75% of shipments worldwide. The country produces nearly half of the world’s steel, making its import trends highly influential on global markets. Since June, monthly imports have exceeded 100 million tons, compensating for weak domestic production earlier in the year.

Factors Driving China’s Iron Ore Imports

Traders and analysts link high import levels to a mix of market and geopolitical factors. Iron ore prices fell to $93/ton in early July, stimulating buying by mills and traders. Prices rebounded to $105–107/ton by October’s end, yet imports remained strong. Port inventories now total 133.6 million tons, signaling proactive stockpiling in anticipation of economic recovery.

Market optimism also stems from potential trade improvements between China and the US. Leaders may discuss a truce during the APEC summit in Gyeongju, which could temporarily boost steel and raw material markets. Despite September’s steel production dropping to 73.49 million tons (-4.6% y/y), annual projections still target around 1 billion tons, consistent with government expectations.

SuperMetalPrice Commentary:

China’s persistent iron ore imports demonstrate its strategic stockpiling approach amid volatile steel production. Global miners should monitor port inventories and trade developments closely. Even minor policy or trade shifts could create significant price fluctuations. For metals investors, October’s figures suggest a temporary resilience in demand, which may influence seaborne ore prices heading into 2026.