Government opens up iron ore imports as license rules nixed

Jul 02, 2013 | 10:39 AM |

Tags  China imports, iron ore, iron ore imports, import licenses, China Iron and Steel Association, Ministry of Commerce

SHANGHAI — China, the world’s largest iron ore importer, is allowing companies to import iron ore without requesting import licenses.

The policy alteration came into effect July 1 and is in line with the central government’s resolution to streamline its bureaucratic processes.

"Generally speaking, any company qualified to do import business is able to import iron ore into China. Companies can apply online for automatic iron ore import permits for each cargo, and an import license is no longer a must," a steel mill source in Hebei province told AMM sister publication Steel First.

Smaller traders previously had to have qualified importers bring the iron ore in for them, in return paying agency fees on top of the cost of the iron ore. Although these agent fees were small compared with the total value of the cargo, smaller traders still welcome China’s move to scrap import licenses.....

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