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Iron ore imports poised for 15% growth

By Du Juan | China Daily | Updated: 2014-10-18 08:42

China's iron ore imports are set to rise to around 900 million metric tons this year, a 15 percent year-on-year growth, on the back of the country's growing steel production base and higher output capacity of overseas mining giants, experts said on Friday.

Chen Kexin, chief analyst of Beijing-based Lange Steel Information Research Center, said China's iron ore imports will increase in 2015 with an annual growth rate of 10 percent or more to about 1 billion tons.

"The main driver for the huge growth is the international mining giants' strategy of expanding iron ore production capacity to gain more market share," Chen said.

Iron ore imports poised for 15% growth

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