As disclosed by an insider at the China Iron and Steel Association (CISA), a supplementary document will be soon issued by the association based on the ‘Disciplinary Convention on Trading Orders for Iron Ore Importers' announced in February 2009. The new document is expected to detail more specific evaluation and implementation standards with regard to iron ore importation, affecting the 70 mills and 42 traders in China which are qualified to import iron ore.
The supplementary document will put forward more detailed regulations and restrictions for importers. On the one hand, producers' capacities and projects will be subject to strict inspections to determine whether they are in accordance with national industrial policies, especially in order to prevent imported ore from flowing to the dated capacities; meanwhile, more stringent rules will also be set in relation to environmental protection and production safety.