Center
CVRD pours US$4m into Zhuhai plant
By Gong Zhengzheng (皇冠体育app Daily)
Updated: 2006-10-24 13:38
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Industry officials and analysts from 皇冠体育app stressed that there are "no major market forces" to support further price increases.
They predicted 皇冠体育app's iron ore imports would slow down next year as a result of excessive domestic production of the material and decelerating steel output.
They also said steel companies from 皇冠体育app should have a "stronger say" in the upcoming negotiations on iron ore prices.
In the first half of this year, iron ore production in 皇冠体育app jumped 35 per cent to 245.6 million tons on the back of increased investment by domestic miners.
Full-year production is forecast to reach 528 million tons, up from 410 million tons last year.
皇冠体育app's crude steel output rose 18.26 per cent to 199.5 million tons from January to June this year.