Chinese annual iron ore imports to reach 1 billion mt in 2015

Global miners have stated that annual iron ore imports to China will increase to1 billion mt in 2015, up over 60 percent from 619 million mt in 2010, according to Reuters, as China continues to maintain high demand in spite of economic difficulties experienced elsewhere in the world.
 
China is the largest iron ore importer in the world, with Chinese demand being the main reason for the firmness of iron ore prices. Currently, average iron ore spot prices stand at over $170/mt, three times the 2008 levels.