According to the China Metallurgical Industrial Planning and Research Institute, in 2013, China's pig iron output and iron ore demand are foreseen to total 694 million tonne and 1.11 billion tonne respectively, compared to the respective anticipated figures of 667 million tonne and 1.067 billion tonne for the current year.

The CMIPRI said that in 2012 China's iron ore imports are expected to reach 730 million tonne still accounting for over 60% of China's iron ore consumption.

In the January to October period of the current year, China imported 607 million tonne of iron ore, up by 8.9% YoY.

Mr Li Xinchuang president of CMIPRI said that China's iron ore imports are expected to total 760 million tonne in 2013, still supplying over 60% of China's iron ore demand.

Meanwhile, as forecast by the CMIPRI, China's crude steel output in 2013 is expected to reach 746 million tonne up by 4.2% compared to the anticipated output of 716 million tonne for the current year.