Publicado: Dec 14, 2023 18:12
Linggang Iron and Steel stated on an interactive platform that due to the large demand for iron ore in the Chinese steel industry, and the relatively poor endowment of domestic iron ore resources, high mining and selection costs, and the presence of associated ores, Chinese steel enterprises mainly rely on imports for iron ore, leading to the unreasonable distribution of industry chain profits between steel enterprises and upstream iron ore producers. The "Cornerstone Plan" proposes to achieve an increase in domestic mineral production, scrap steel consumption, and overseas equity ore by 100 million tons, 70 million tons, and 100 million tons respectively by 2025 compared to 2020, effectively enhancing China's steel industry's resource security capabilities. The company continues to adhere to a low inventory strategy, procuring according to demand to minimize the use of operating funds, and fully supports the implementation of the national iron ore strategy.

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