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CVRD pours US$4m into Zhuhai plant

By Gong Zhengzheng (China Daily)
Updated: 2006-10-24 13:38

Industry officials and analysts from China stressed that there are "no major market forces" to support further price increases.

They predicted China's iron ore imports would slow down next year as a result of excessive domestic production of the material and decelerating steel output.

They also said steel companies from China should have a "stronger say" in the upcoming negotiations on iron ore prices.

In the first half of this year, iron ore production in China jumped 35 per cent to 245.6 million tons on the back of increased investment by domestic miners.

Full-year production is forecast to reach 528 million tons, up from 410 million tons last year.

China's crude steel output rose 18.26 per cent to 199.5 million tons from January to June this year.