China iron ore imports to increase by 6 percent in 2011 - official
Shanghai. March 18. INTERFAX-CHINA - China's iron ore imports are expected to increase by 40 million tons in 2011, a year-on-year growth of approximately 6 percent, Xu Xu, president of the China Chamber of Commerce of Metals, Minerals, and Chemical Exporters, said March 17 at the 2011 Int'l Steel and Minerals Conference in the city of Kunming, Yunnan Province.
According to Xu, the central government's drive to build 10 million affordable housing units by the year's end will bolster iron ore demand. Domestic crude steel consumption will in turn increase by 40 million to 50 million tons, he added.
China's crude steel production, meanwhile, will increase 7 percent year-on-year in 2011 to 670 million tons, Xu said.
General Administration of Customs (GAC) figures show that China imported 618.63 million tons of iron ore in 2010, a drop of 1.4 percent from 2009.
- XH