Speaking on February 27, Li Xinchuang, deputy secretary-general of the China Iron and Steel Association (CISA), stated that overall Chinese demand for iron ore in 2013 will reach 1.11 billion mt, up 5.7 percent year on year. The average Fe content in question in 62 percent.
In 2012, China had imported 744 million mt of iron ore, up 8.43 percent year on year, while Chinese domestic iron ore output for the year amounted to around 1.3 billion mt, though of low Fe content.
Mr. Li also said that China's domestic demand for finished steel in 2012 will increase by an estimated 4.1 percent year on year to 666 million mt, while by the end of 2012 China's annual crude steel output capacity had risen to 970 million mt.