According to Mr Xu Xu Chairman of China Chamber of Commerce of Metals, Minerals & Chemicals Importers & Exporters, “We predict that the iron ore imports in Q4 2010 will see some increases as encouraged by mills restocking activities and recent soft iron ore prices.”
Mr Shan Shanghua secretary of China Iron & Steel Association has predicted earlier that China iron ore imports in 2010 would not surpass that of 2009. He said to ease the increasing pressure from rising iron ore prices, China steel mills have enhanced their efforts in scrap steel recycling and predicted that the scrap recycle in 2010 could reach 100 million tonnes and will keep an upward trend in coming years.
The statistics of Nation Bureau of Statistics showed that in September, China iron ore imports increased by 18% to 52.60 million tonnes. In the same month, China domestic iron ore production reached 93.547 million tonnes, up by 9.4%YoY. And in September China crude steel output dropped 5.9% falling to 47.95 million tonnes.