Cheap imports cited for cuts in domestic iron ore usage

摘要

Chinese steel mills continue to reduce their consumption of domestic iron ore due to the availability of cheaper imports, according to sources in China. “Local iron ore currently accounts for around 7 to 8 percent of all the material we process. It’s lower than the 10-percent rate in November,” a source at a major private steel mill in Hebei province said. Persistently low prices for imported iron ore are encouraging mills to rely less on domestic ore, he said.