Canada Grants C$7 Million to Greenland Molybdenum Mine to Strengthen Critical Minerals Supply 
Economic pessimism has set in – but there are reasons for Australians to be hopeful 
Gold Price Falls as Fed Rate Hike Fears and U.S.-Iran Tensions Weigh on Bullion 
Asian Currencies Trade Mixed as Yen Hovers Near 40-Year Low, Dollar Holds Firm on Fed Outlook 
Oil Prices Drop as Middle East Supply Recovery Eases Market Concerns 
Oil Prices Rise as US-Iran Tensions Threaten Strait of Hormuz Oil Shipments 
SpaceX Eyes Starlink Mobile Phone Service to Challenge Verizon, AT&T, and T-Mobile 
World Bank Approves $1.1 Billion Emergency Funding for Bangladesh Amid Food and Energy Price Pressures 
Bank Regulation Rollbacks in the U.S. and UK Could Increase Financial Risks, Study Warns 
Oil Prices Rebound as Strait of Hormuz Tensions Return After Ship Attack Near Oman 
China Sets 1.25% Overnight Reverse Repo Rate Below Market Expectations 
Gold Prices Rise Above $4,000 as Inflation Data and Weaker Dollar Boost Demand 
US Dollar Slips After PCE Inflation Data Eases Fed Rate Hike Expectations 
Wall Street Ends Lower as AI Stocks Drag Markets, Fed Rate Outlook Shifts 
Trump Threatens 100% Tariffs on Countries Imposing Digital Services Taxes on U.S. Tech Firms 
South Korea’s KOSPI Plunges as Apple Price Hikes and OpenAI IPO Delay Shake AI Chip Stocks 
China’s Steel Exports Set to Surge in 2025 Despite Trade Tensions
China, the world’s largest steel producer, is projected to continue exporting massive quantities of steel in 2025 to manage overcapacity and weak domestic demand, according to industry insiders. This comes as local consumption remains sluggish, largely due to a downturn in the property sector. Analysts predict exports between 90 and 100 million metric tons next year, up from the 80.71 million tons exported in the first nine months of 2024.
Baoshan Iron & Steel Co., a subsidiary of China Baowu Steel Group, exported a record 5.84 million tons in 2023 and aims for over 6 million tons this year. Other major Chinese steelmakers are also planning to ramp up exports.
Despite declining domestic output, global demand for Chinese steel remains strong, particularly in Southeast Asia, the Middle East, and India. The World Steel Association predicts a 1.2% rebound in global demand by 2025, reaching 1.77 billion tons.
Trade Tensions Looming Over Exports
China’s increasing steel exports have raised trade tensions, with countries like Turkey and Indonesia imposing anti-dumping duties. In 2024 alone, 28 trade remedy cases were filed against Chinese steel products, compared to only eight in the previous three years.
While Chinese officials maintain that most steel is produced for domestic needs, analysts suggest that overproduction will continue to fuel exports, exacerbating trade disputes in 2025. Despite these challenges, China's low production costs and high global demand are expected to sustain its steel export levels.
