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According to the deputy secretary general of China Iron and Steel Association, China’s iron ore demand is estimated to surge by 5.71 percent to 1.11 billion tons in 2013.

In 2012, China had imported 743.55 million ton of iron ore, increasing by 8.43 percent from 2011. Also, China produced more than 1.3 billion ton tons of low quality ore in 2012.

In addition, steel demand in China this year will up by 4.1 percent to 666 million tons of steel. The total crude steel capacity now in China is around 970 million tons, much higher seven times than the performance in 2000.