According to the statistics compiled by MIIT, for 2010 China's overall iron imports amounted to 620 million t, down 1.4% vs the corresponding period of previous year. Meanwhile China's dependence on the imported iron ore also decreased from 69% to 63%. However, the average price for the imported iron ore rose by approximately $40 per t, consequently China's steelmakers had paid an extra cost of 196 billion yuan for the imported iron ore.
"China's government has decided to make some pragmatic measures to regulate the iron import market. At present the MIIT is now taking some preemptive steps to crack down on the harmful scrap imports which may pollute the environment or cause a series of impacts on the production activities.' An official from MIIT said.
He also said that China should import either the environment-friendly steel products or the products which may pollute environment if manufactured in China. Besides China's government also prohibited to import the low content slag which would generate harmful exhaust and consume more energy if produced.