China’s Iron Concentrates Supply Remains Promising in the Future

SHANGHAI, Jan 11 (SMM) - Relevant authorities stated in the 14th Five-Year Plan that they would provide great support to the development of domestic iron ore mines and improve the guarantee capability of domestic iron ore resources. Some large iron ore projects are also qualified to enjoy policy support. In addition, the sharp gains in the iron ore prices over the past two years have ensured healthy profits at some steel mills or mines, allowing sufficient funds to invest in new projects. The fixed asset investment in the ferrous metals mining and dressing industry increased by 23.3% from January to November 2021.

According to SMM statistics, there are around 150 new iron ore projects, involving a production capacity of around 150 million mt. Some major and large new projects are listed as follows, and these projects account for more than 30% of the total projects.