Luo Tiejun, vice president of the China Iron and Steel Association (CISA), has said that in its foundation plan the CISA aims to change the composition of the sources of China’s iron supplies in two or three five-year plans, to fundamentally resolve the shortage of resources in the steel industry chain.
By 2025, China is targeting consumption volumes of Chinese domestic production iron ore, domestic scrap and overseas iron ore supply of 370 million mt, 300 million mt and 220 million mt, increasing by 100 million mt, 70 million mt and 100 million mt compared to 2020, respectively.