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China's Iron Ore Output Rises 2%

The iron ore output for China rose by 2% in the month of August 2010 to reach 99.58 million tons. This is the second highest production on record.

The iron ore imports by China also fell by 13% in August as compared to the month of July perhaps as a natural consequence of the domestic production.

The vice-chairman of the China Iron and Steel Association, Luo Bingsheng, told industry reporters at the beginning of August that rising domestic iron ore output was the key factor behind a decline in iron ore imports over the second quarter of the year.

However despite the rise in iron ore production the steel production stagnated in China. China is looking to ease its dependence on the global mining giants by revving up domestic production. As of now the country depends on Vale, Rio Tinto and BHP Billiton for its supply of iron ore.

The China Iron and Steel Association is trying to boost high domestic levels of production of iron ore to help wean the country off the foreign ore. However many experts feel that it will be a while before China can meet its own ore requirements.

Joel Scanlon

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Joel Scanlon

Joel emigrated to Australia in 1995 and worked for five years in the mining industry as an exploration geotechnician, using GIS mapping and CAD software. Upon moving to the North Coast of NSW, Australia Joel worked as a graphic designer for a leading consultancy firm. After that, he ran a successful business providing web services to businesses along the eastern seaboard of Australia. During this time, he developed and launched News-Medical.Net. Joel has been working with AZoNetwork since the company was founded in 2000.

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