China's Rising Iron Ore Output Hits Foreign Miners

摘要

Rising domestic iron ore production and slowing steel demand have hit some foreign miners and affected the global market, some Chinese industry leaders said recently. Chinas iron ore imports dropped for the third straight month to 47.2 million tons in June, while spot prices have dropped to about 122 dollars per ton after peaking at 185 dollars per ton in April. The country's iron ore imports rose 4 percent year-on-year in the first half of this year, figures from the China Iron & Steel Association (CISA) showed. But domestic ore output increased by 28 percent year-on-year to 485 million tons in the same period, with output rising 37.6 percent in the second quarter from the first quarter.