Iron ore imports up in East Asian countries

Iron ore imports up in East Asian countries

According to recent market reports, steel and iron production in Japan, China, Korea and Taiwan shows an upward trend. Accordingly, the pig iron production in East Asian countries amounted to 187 million tons in the first five months of the year, an increase of 29 percent a year ago. Crude steel production also rose 18.9 percent year on year to 211 million tons. The rapid growth in crude steel and pig iron production in East Asian countries contributed to the iron ore imports, rising 15 million tons to 150 million tons in the first four months of the year. East Asian countries' iron ore imports are expected to reach 450 million tons in 2005, an increase of 50 million tons over 2004.