CRI Home - Photo- Forums - Talk China - Surf China - About China -  
  Webcast | CRI Today | China | World | Biz | SciTech | Sports | Life | Showbiz | Easy FM | Learn Chinese / English | Weather | Events
Nation to Import 240m Tons of Iron Ore
2005-8-9 20:23:30      Xinhua
China is expected to import 240 million tons of iron ore this year, up about 15 percent over last year, a source with the Ministry of Commerce said on Tuesday.
The ministry predicted that China's import of iron ore will notincrease rapidly in the next few months and the price will go downby a large margin from last year's level.

In the second half of 2005, the impact of state macro-control policies will go on to be apparent, which will bring the slowing-down of the growth of iron and steel industry and further ease the demand for iron ore.

On the other hand, the supply of domestic iron ore is going up,said the ministry, noting that the domestic iron ore output for the whole year is estimated at 370 million tons for the whole year, up 19 percent on a year-on-year base.

In the first six months this year, domestic iron output reached174 million tons, up 26.5 percent over the same period last year.

In the January-June period, China imported 130 million tons of iron ore, up 34.5 percent on a year-on-year base. The growth rate was six percentage points lower than in the same period of 2004.

China is now the biggest importer of iron ore in the world. In 2004, China imported 208 million tons of iron ore, accounting for one third of the world's total maritime trade volume.

        Talk China        Print        Email        Recommend
Related Stories:
v Heavy and Chemical Industries to Be out of Beijing Proper 08-05
v Environment among People's Top Concerns 08-02
v ASEAN, US Summit Talks on Protecting Environment 07-28
v Industrial Policy On Iron, Steel 07-15

  Copyright of All rights reserved.

Reproduction of text for non-commercial purposes is permitted provided that both the source and author are acknowledged and a notifying email is sent to us.

postalChina Post is progressing with its scheme to merge its two sub-businesses.
textilePeter Mandelson said he would hold talks with Bo Xilai this week.
YahooChinese e-commerce operator is in the late stages of talks to sell a 35 percent stake to Yahoo Inc.
BOC IPO Could Take Place in 2005
China, Hong Kong, Japan, and Aussie Market Roundup 
CNOOC's Market Value Up By $7b
Producer Price Index Rises
Lenovo Profit Up 6% After IBM PC Buy
Power Supply Sees Robust Growth
HK Urges Manufacturers to Go "Green"
Major HK Banks's Interest Rate Hike
China Mobile First-Half Profit Rises