China’s iron ore and coal imports fell in March 2025 due to economic uncertainty.

China’s imports of iron ore and coal saw a significant decline in March 2025, reflecting ongoing economic challenges and shifting demand patterns. The decrease in imports is attributed to a combination of poor weather conditions and a slowdown in steel production, raising concerns about the future of the commodities market in the world’s second-largest economy.

• Iron ore imports fell by 6.7% year-on-year to 93.97 million metric tons.
• Coal imports decreased by 6% year-on-year, totaling 38.73 million metric tons.
• Crude oil imports, however, rose by 4.8% year-on-year, reaching 51.41 million metric tons.
• The decline in iron ore and coal imports is linked to reduced demand for steel and adverse weather conditions.

In March, China’s iron ore imports dropped to 93.97 million metric tons, marking a 6.7% decrease compared to the same month last year. Analysts suggest that this decline is primarily due to a slowdown in steel production, which has been affected by both seasonal weather disruptions and a general decrease in demand.

Chu Xinli, an analyst from China Futures, noted that the impact of weather-related supply constraints from February lingered into March, contributing to the lower import figures. Despite this, there is optimism that iron ore imports may rebound in April as demand improves and weather conditions stabilize.

Similarly, coal imports fell to 38.73 million metric tons, down 6% year-on-year. The reduction in coal imports is indicative of a broader trend in China’s energy consumption, as the country continues to transition towards cleaner energy sources. The decline in coal demand is also reflective of the ongoing economic adjustments within the industrial sector.

Contrasting the declines in iron ore and coal, China’s crude oil imports increased by 4.8% year-on-year, reaching 51.41 million metric tons. This rise is attributed to a surge in seaborne crude imports, particularly from Iran, which has seen record arrivals in the Shandong region. Analysts believe that this increase may signal a shift in China’s energy strategy amidst fluctuating global oil prices.

The mixed results in commodity imports highlight the complexities of China’s economic landscape. While the drop in iron ore and coal imports raises concerns about the health of the manufacturing sector, the increase in crude oil imports suggests a strategic pivot in energy sourcing.

The ongoing trade tensions with the United States and the potential for further tariffs could exacerbate these trends, impacting not only China’s economy but also global trade dynamics. As the situation evolves, stakeholders in the commodities market will be closely monitoring these developments to gauge future trends.

The decrease in China’s iron ore and coal imports in March underscores the challenges facing the country’s industrial sector amid economic uncertainty. While the rise in crude oil imports offers a glimmer of hope, the overall outlook remains cautious as analysts predict continued volatility in the commodities market. Stakeholders will need to adapt to these changing dynamics as they navigate the complexities of global trade and economic policy.

• Chinese iron ore and coal imports decrease in March :: Lloyd’s List, Lloyd’s List.
• Instant View: China’s March imports of soybeans, iron ore drop; crude oil rises, NewsBreak: Local News & Alerts.
• China’s March imports of soybeans, iron ore drop; crude oil rises, Reuters.