Iron ore imports likely to slow down

SHANGHAI: China's iron ore imports are expected to increase at a slower pace because of rising domestic supply and decline in the growth of steel output capacity, say industry insiders.

The country's import of iron ore rose to 187.9 million tons in the first six months this year, up 16.46 percent year-on-year. Australia continues to be the biggest exporter to China, accounting for 37.95 percent of the country's total imports, followed by India, Brazil and South Africa.

The output of large and medium-sized mines in China rose 29.28 percent to 321.28 million tons in the first half while the output of small mines was around 50 million tons.