According to statistics, China’s iron ore imports are continuously soaring.
Imported and domestic produced iron ore are usually both accounted for half of the overall demand in China.
It is believed that all the extra steel production of last year and this year were made by the imported iron ore.
Insiders indicate that the current situation is determined by the increasing cost of mining; it is hard to lift up mining amount when the price is going down.
Source: Yieh.com