China Increases Steel Exports to Iraq / Inking ‘Oil-for-Reconstruction’ Agreement

According to ‎‎Chilan‎‎, quoting the Mining Bulletin,‎  China’s steel exports to Iraq reached 399,000 tons in the first three months of 2025, an increase of 54.1% compared to last year.‎

 China’s steel exports to Iraq have proliferated in recent ‎‎ years. The latest customs data shows that the volume of steel exports from China to Iraq in the first three months of 2025 reached 399,000 tons, 54.1% growth compared to the same period last year. ‎

‎ There is a high demand for steel in the Iraqi market, and the country’s economy is gradually prospering. ‎

‎ In September 2019, China and Iraq reached a series of cooperation agreements and officially launched the “oil-for-reconstruction” cooperation model. According to this agreement, Iraq committed to supply 100,000 barrels of oil per day while Chinese companies invest in the of Iraq’s infrastructure reconstruction.

‎ In 2023, Iraq’s steel imports were about 8 million tons, which is equivalent to more than 70% of the country’s domestic consumption, Iraq’s imports are expected to exceed $10 billion. ‎

It’s important to note that Iraq’s domestic steel production provides about 30% of the country’s demand, and it is mostly limited to long products.

keyboard_arrow_up