Chinese mills remain dependent on ore imports
Sep 29, 2010 | 11:57 AM
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Constrained supply and quality concerns mean large Chinese steelmakers will unlikely be able to reduce their dependence on imported iron ore in lieu of domestically produced material, market participants said.
Daily Chinese iron production rose to 3.21 million tonnes in August, up 2 percent from the previous month and 28.5 percent higher than a year earlier. But China is a long way from being self-sufficient in iron ore, having imported 44.61 million tonnes in August, although that tally was down 13....
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