Chinese steel producers continue to export steel intensively, with the rising tide of protectionism offset by steady demand in Southeast Asia and growth in new markets in the Middle East, according to Bloomberg.

Saudi Arabia has become a popular destination this year. In the first nine months of this year, Chinese steelmakers increased their shipments to the kingdom by 41% year-on-year to 4.8 million tons. According to the agency’s calculations, based on Chinese customs data, this is the largest jump in major markets.

Exports of long products from China to Saudi Arabia almost doubled compared to the previous year, while supplies of semi-finished products increased more than sixfold. However, it remains to be seen whether this demand will continue, as the kingdom is abandoning the $500 billion futuristic city of Neom megaproject in order to focus on other areas.

Significant growth in Chinese exports of steel products over nine months was observed to the Philippines (+32.5% y/y), Indonesia (+27.5%), and Thailand (+26.8%).

At the same time, steel exports to Vietnam and South Korea fell by 24.8% and 6.1% year-on-year in January-September, respectively. Both countries have imposed restrictions on imports of Chinese steel products, although they remain two of the leading markets for China.

Data on countries lagging behind China’s overall export figures, according to Bloomberg Intelligence, indicate that exports are being redirected to markets with fewer restrictions. Countries that had tariffs on Chinese steel or planned to introduce them accounted for about 45% of shipments in the first nine months, compared with 54% in the same period of 2024.

It should be noted that Chinese steel companies increased steel exports by 6.6% in January-October 2025 compared to the same period in 2024, to 97.74 million tons.