date:Jun 10, 2014
mports in the first five months of 2014 was up 19 percent from year ago at 382.7 million tonnes. Confronted by swollen inventories that are hovering near record of over 100 million tonnes and falling rebar prices that have lost 17 percent this year, mills and traders in China have slowed down fresh purchases of the raw material, causing iron ore prices to drop.
In a sign that slower domestic demand was pushing Chinese steel makers to push for more sales abroad, customs data showed steel produc