China to Maintain High Growth in Iron Ore Production

China to maintain high growth in iron ore production

BEIJING, Nov. 1 (Xinhua) — China will maintain high growth in iron ore production in 2006 in a bid to meet the growing demand for it in the country’s iron and steel sector, said a senior expert here Monday.

China turned out 279.65 million tons of iron ore in the first three quarters of this year, up 29.6 percent year-on-year, and the growth momentum will be kept the whole year, said Luo Bingsheng, deputy president of the China Iron and Steel Industry Association.

Luo said that China will control the growth in iron and steel output in 2006 and give priority to upgrading of quality, expanding of product varieties, reduction of energy consumption and transformation of the growth pattern.

The country’s iron and steel output will continue to grow in 2006, but at a pace lower than in 2005, he said.

The iron ore producers are actively expanding production capacity, which will help to strike balance between iron ore supply and demand in general, he predicted.

China’s iron and steel enterprises will actively take part in the international iron ore price negotiation so as to enhance its say in the sector, he added.