Luo Tiejun, vice president of theChinaIron and Steel Association (CISA), stated at a meeting held by Hebei MetallurgicalMiningAssociation on September 4 thatChinais aiming to increase itsiron oreoutput by 100 million mt during the 2021-25 period.
Currently, importiron oreprices forChinahave declined amid production restrictions implemented in the steel industry inChina. However, it is very hard for Chinese miners to obtain approval for newly-built mines.
At the same time, Mr. Luo saidChinawill intensify efforts to develop overseasiron oreresources, and will carry out studies for the establishment of a fairer and more transparentiron orepricing system, to ensure high-quality development for the steel industry.