Major Chinese mills target greater self-sufficiency in iron ore supply

According to the China Iron and Steel Association (CISA), the total iron ore output of eight major Chinese steelmakers - Shougang Group, Pangang Group, Anshan Iron and Steel Co., Maanshan Iron and Steel Co., Baogang Group, Hebei Iron and Steel Co., Taiyuan Iron and Steel Co. and Jiuquan Iron and Steel Co. - reached 170 million mt in 2011, accounting for 30 percent of the iron ore output of large and medium-size steel mills in China during the year in question. The CISA stated that the self-sufficiency of these eight major steel producers in terms of iron ore supply will increase to 40 percent by 2015.