Chinese imports of iron ore in 2015 will increase from a record 900 million mt, an executive at Vale told media Thursday.
According to Claudio Alves, global director of marketing and sales at the Brazilian mining company, the Asian country will consume most of the 80 to 100 million mt of the product.
“Demand in China will continue to be healthy,” Alves said in an interview with media in Dalian, China. “China still has a long way to go in terms of urbanization. It can last another 10 years before reaching a peak.”
According to reports, the country’s crude steel production may rise to a record 820 million mt this year, from 779 million mt in 2013, he said. Output will increase 3 percent next year, the executive added.