March 2025
Iron Ore & Steel
Column: China’s steel and iron ore swing between hopeful outlook and grim reality
Source: Energy News
China’s iron and steel sector is caught between the expectation that conditions will improve and the reality of much of the data that currently exists. FULL STORY
China’s HBIS collaborates with Vale to advance steel decarbonization
Source: Mining
Chinese steelmaker HBIS group signed a memorandum of understanding (MoU) with iron ore mining giant Vale to promote decarbonization in the steel value chain, both companies said on Thursday. FULL STORY
China’s mining investment under Belt and Road Initiative sets new record – report
Source: Mining
China’s overseas mining investment under its Belt and Road Initiative (BRI) hit another peak last year at $21.4 billion, as the government continues to place heavy emphasis on raw materials for the energy transition, according to a report published by Australia’s Griffith Asia Institute (GAI) in collaboration with the Green Finance & Development Center (GFDC) of China. FULL STORY
China-funded steel plant boon to Bolivia’s recovery
Source: China Daily
A mega steel plant in Puerto Suarez, Bolivia, largely financed by the Export-Import Bank of China, is expected to meet half of the Andean country’s demand for steel and boost its economic recovery and industrial upgrading. FULL STORY
WEEKLY: China mines’ iron ore output pulls back marginally, stocks rise further
Source: My steel
The production among Chinese iron ore mining companies ended a six-week rise and slightly retreated last week, mainly due to the maintenance stoppages among some mines in the northern and eastern regions in the country, Mysteel’s latest survey showed.FULL STORY
China tightens rules on alumina expansion to tackle overcapacity
Source: Mining Weekly
China tightened rules on building new alumina plants, in a bid to tackle overcapacity that has caused a plunge in prices in the world’s top metals market.FULL STORY
China to add cobalt, copper to state metal reserves
Source: Bloomberg
China plans to add to its strategic reserves of key industrial metals this year, an effort to boost the resilience of critical minerals supply at time when energy-transition demand is increasing and geopolitical tensions are running high. FULL STORY
WEEKLY: China mills’ imported iron ore stocks edge down
Source: Mysteel
After rising for three straight weeks, inventories of imported iron ore sintering fines held by the 64 Chinese steel mills under Mysteel’s regular monitoring dropped during March 20-26 to 12.8 million tonnes, down by 161,700 tonnes or 1.2% on week, Mysteel’s latest survey results showed. FULL STORY
Iron ore shipments to China via Port Hedland slump 19% MoM in Feb
Source: Mysteel
The volume of iron ore headed for China from Port Hedland, the top iron ore terminal in Western Australia, totalled 31.6 million tonnes in February, down by a marked 19.3% from January and by 5.7% from the same month last year, new data released by the Pilbara Ports Authority (PPA) show. FULL STORY
India’s iron ore exports to China fall 19% YoY in CY’24
Source: Mysteel
India exported 33.3 million tonnes of iron ore to China, its top buyer of the commodity, in calendar year 2024, plunging by 19.2% compared with the 41.3 million tonnes shipped during 2023, according to new data from India’s Ministry of Commerce and Industry. FULL STORY
Russell: China’s commodity imports will continue to decline until 2025 due to economic and trade concerns
Source: World Energy News
China’s imports have been weak in 2025. This is in line with the recent trend of a softer economy. According to data released by the official customs on Friday, imports of crude, natural gas and iron ore, as well as copper, have all decreased in the first half of this year when compared to the same period of last year. FULL STORY
Coal
DAILY: China’s thermal coal rangebound, pressures looming
Source: Mysteel
China’s spot thermal coal market remained largely stable on April 2, with trading activity slowing down after a flurry of buying for medium- and low-calorific value cargoes. With the Qingming Festival approaching later this week (Friday-Sunday), many buyers opted to stay on the sidelines before the holiday. FULL STORY
WEEKLY: China wash-plants’ met coal stocks drop to 5-month low
Source: Mysteel
Total stocks of processed coking coal held by the 110 independent and affiliated Chinese wash plants under Mysteel’s regular survey declined for a second straight week by a hefty 221,200 tonnes or 10.3% on week to about 1.92 million tonnes during March 26-April 1, according to the latest survey findings. This was also a new low since November last year. FULL STORY
China’s top 10 coal firms Jan-Feb output rises 7.1% YoY
Source: Mysteel
China’s top 10 coal producers mined a combined 390 million tonnes of raw coal during January-February, up by 25.7 million tonnes or 7.1% from the same period last year, data from the China National Coal Association (CNCA) showed. Their output accounted for 50.6% of China’s total coal production during the period. FULL STORY
Mongolia to issue tenders for new railway to boost coking coal exports to China
Source: S&P Global
Mongolia aims to open tenders by the end of March to start the construction of a second railway, which is expected to nearly double the transport of coking coal to China, the Mongolian government said March 17. FULL STORY
DAILY: Chinese portside thermal coal market shows mixed trends
Source: Mysteel
China’s portside thermal coal market saw mixed trends on March 26, with prices for mid- and low-calorific-value (CV) grades holding steady while high-CV cargoes losing steam, sources said. FULL STORY
GACC: China’s Feb thermal coal imports fall 3.3% YoY
Source: Mysteel
China’s imports of thermal coal in February fell by 3.3% on year to 24.15 million tonnes, data from the General Administration of Customs of China (GACC) showed. However, the total had slumped by 20.9% from a month earlier. FULL STORY
GACC: China’s Feb coal exports surge 158% YoY, coke shipments plunge 38%
Source: Mysteel
China’s exports of all types of coal skyrocketed 157.8% on year to 580,000 tonnes in February, which also marked a 56.8% jump from January, according to the latest data from the General Administration of Customs (GACC). Despite the surge, total shipments in the first two months of 2025 stood at 950,000 tonnes, down 6.3% from a year earlier. FULL STORY
China’s coal imports from Russia rise 10% in Jan-Feb
Source: Market Screener
China’s imports from Russia rose 10% on the year in January-February to 12.65 million metric tons, data from the General Administration of Customs showed on Thursday, despite persistent rail bottlenecks and Western sanctions. FULL STORY
Soybean
Protectionist shipbuilding measures will create more problems for US: China Daily editorial
Source: China Daily
The US Trade Representative’s Office is holding a public hearing on its proposed port fees targeting Chinese-built vessels this week, with the move by the Donald Trump administration to ‘resurrect’ US shipbuilding facing pushback from businesses. FULL STORY
China and Cambodia’s ‘cold chain’ shipping route boosts bilateral trade
Source: China Daily
The newly-launched “cold chain+ general cargo” transport route between China’s southernmost port Fangchenggang and Cambodia’s Koh Kong Port is set to enhance Cambodia’s export capacity, according to business insiders. FULL STORY
China buys record volumes of Brazilian soybeans in first quarter of 2025
Source: Ukr Agro Consult
As of March 25, Brazilian traders loaded 22.8 million tons of soybeans onto ships, 17.7 million tons of which went to China, according to analysts at Agrinvest. They note that both figures are “records.” FULL STORY
China’s Garlic Industry Strengthens Global Trade as Production Remains Stable
Source: Trade Council
China’s garlic industry continues to thrive, with stable production and strong export performance reinforcing its position as a key player in global trade. Despite early-year weather fluctuations, industry experts remain optimistic about a robust harvest, ensuring consistent supply to international markets. FULL STORY
China: Corn import supplies become more diverse amid trade tensions
Source: Global Times
Chinese importers are ramping up efforts to diversify the nation’s corn import sources to mitigate risks amid rising trade tensions, driven by the new US administration’s tariff policy and other factors. Domestic farmers are also putting more effort into boosting production to secure supplies, a senior industry analyst said on Wednesday. FULL STORY
Demand for soybeans and soybean meal to grow in China
Source: Ukr Agro Consult
China’s soybean demand is projected to increase in MY 2025/26 amid a slight decline in production and an increase in imports, according to a USDA Foreign Agricultural Service (FAS) report. FULL STORY
China increased soybean imports from the US and decreased from Brazil
Source: Ukr Agro Consult
China imported 84% more soybeans from the United States in January-February this year, amounting to 9.13 million tonnes, compared with 4.96 million tonnes in the same period in 2024, according to the General Administration of Customs, Reuters reports. FULL STORY
Port of Sao Luis Authorized to Export Brazilian Corn to China
Source: Soybeans and Corn
The northeastern Brazilian Port of Sao Luis is the latest port in Brazil authorized to export corn to China. Prior to 2022, Brazil only exported small amounts of corn to China, but that changed when the war in Ukraine disrupted grain exports from the region. The Sao Luis Port Terminal (TPSL) has now become a strategic link in Brazil’s logistical chain. The achievement reflects not only the adherence to the strict phytosanitary protocols required by China, but also the growth potential of the Northern Arc of ports (Amapá, Amazonas, Maranhão, Pará and Rondônia) as a strategic route for national exports. FULL STORY
China soybean meal market shows 2.15% decline
Source: Ukr Agro Consult
According to SunSirs Commodity Analysis System, China’s soybean meal markets are in a bearish trend in March. After a brief rally, the prices are experiencing a sharp decline due to lower trading volumes. FULL STORY
Energy
China discovers major oilfield in South China Sea
Source: China Daily
SHENZHEN — The China National Offshore Oil Corporation (CNOOC) announced on Monday that it has discovered a major oilfield in the eastern South China Sea, with proven reserves exceeding 100 million tonnes. FULL STORY
CNPC’s think tank predicts that China’s oil demand will increase by 1.1% by 2025.
Source: Energy News
China’s oil demand will increase by 1.1% to 765 millions metric tons in 2025, a think-tank affiliated with the state energy company China National Petroleum Corp. (CNPC) announced on Tuesday. This is due to a better than expected growth of the economy and an increasing demand for petrochemicals. FULL STORY
China’s Falling LNG Imports are a Boon for Europe
Source: Oilprice
- Reuters: quarterly imports of liquefied natural gas into China are going to be 22% lower than a year earlier.
- More spot cargoes have become available for Europe.
- Drewry research: Europe to boost relations with other LNG suppliers, notably from Africa and Qatar.
CNPC offshore engineering unit makes foray into Southeast Asia
Source: China Daily
CNPC Offshore Engineering Co Ltd (CPOE) has made its first foray into Southeast Asia’s offshore drilling services sector, securing a foothold in the international high-end offshore drilling market. FULL STORY
China discovers major oilfield in South China Sea
Source: China Daily
SHENZHEN — The China National Offshore Oil Corporation (CNOOC) announced on Monday that it has discovered a major oilfield in the eastern South China Sea, with proven reserves exceeding 100 million tonnes. FULL STORY
Sinopec Zhenhai refinery targets start-up of new crude unit by first-half May, sources say
Source: S&P Global
China’s Sinopec aims to make a second attempt at starting the new crude unit at its Zhenhai refinery between late April and first-half May, after a fire broke out in January when it first tried launching the unit, several trade sources said.FULL STORY
GLOBAL LNG-Asian spot LNG prices at nearly 6-month low on muted Chinese demand
Source: Market Screener
LONDON: Asian spot liquefied natural gas (LNG) prices were at their lowest level in nearly six months amid muted demand in China and Japan due to high stocks after a mild winter, but are expected to get support from stronger European demand. FULL STORY
Sinopec will prioritise risk management in its Russian oil purchases.
Source: World Energy News
Sinopec Corp, the top Chinese refinery, will prioritize “risk management” when purchasing Russian oil. The quality of Russian oil is comparable to that of competing global supplies and its price is similar, according to a senior executive. FULL STORY
Russell: OPEC and IEA are focused on China’s oil demand but it is the crude imports that matter.
Source: World Energy News
What is more important to the crude oil market? Which is more important: the growth forecasts by major agencies of Chinese oil demand or the actual weakness of imports? FULL STORY
China to review sale of Panama Canal shipping terminals to US investor
Source: OFI
Chinese regulators will review the sale of Panama Canal shipping terminals to a consortium led by US investor Black Rock, according to a FreightWaves report. FULL STORY