SteelOrbis Shanghai
When relevant authorities from
Australia put forward valid evident, the Chinese government felt obliged to admit that tentative measures were taken on the
iron ore import. The government said that the measures have now been abolished as they reached their goal.
Foreign Trade Department under the Ministry of Commerce stated that the increase in
iron ore imports led to the accumulation of inventory at ports and those in companies, which required the Foreign Trade Department to adopt some tentative measures to restrict
iron ore imports in order to promote fair competition.
An official from the Department listed the measures as follows:
1. Under the regulations, the automatic import license should be granted within ten days after accepting the applications from the companies.
2. The supervision and analysis on
iron ore quantity, price and place of origin should be further strengthened in order to prevent any disorder in the market, and to maintain a fair and organized market.
3. The companies which are polluting the environment, wasting resources and those that have small blast furnaces should not import
iron ore.
The department also admitted that they were trying to impose a price cap on
iron ore imports, which was set as $54/mt CFR for the Australian ore and $70/mt CFR for the Brazilian ore.
The Ministry of Commerce has canceled the tentative measures under the pressures from Australian miners.