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MNI BRIEF: China Steps Up Iron Ore Supply To Curb Price Rises

BEIJING (MNI)

China will step up iron ore mining at both domestic and offshore operations to curb rising prices, Qu Xiuli, the vice chairwoman of the China Iron and Steel Association told a press conference Tuesday.

China imported 283 million tonnes of iron ore in Q1, up 8% y/y and the average import price was at USD150.79, increasing 64.51% y/y, according to Qu. MNI previously reported that the government ordered coal mines to increase supplies in response to fast-rising prices.

MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
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MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
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