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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.