Xu Xuri, chairman of the China Chamber of Commerce of Metals Minerals and Chemicals Importers (CCCMC), has said that China's iron ore import volume will increase in the fourth quarter this year, mainly due to replenishing of inventory and the slack levels of iron ore imports in the third quarter.
According to data from China's National Bureau of Statistics, in September this year China's iron ore output was 93.547 million mt, up 9.4 percent year on year, its crude steel output was 47.95 million mt, down 5.9 percent year on year, and its finished steel output was 65.43 million mt, up 4.5 percent year on year. Meanwhile, Shan Shanghua, general secretary of the China Iron and Steel Association (CISA), has said that this year China's iron ore imports will not exceed the 2009 volume. China will recycle more scrap, he said, adding that in 2010 recycled scrap in China will reach 100 million mt and may increase further in the future.