CONF: China's iron ore imports to plunge 64% by 2050

China's iron ore imports are expected to reduce by a huge 64% from 2022's 1.11 billion tonnes to 400 million tonnes by 2050, and the main force behind the plummet will be an optimization in the structure of steelmaking raw materials during a low-carbon era, according to Lei Pingxi, chief engineer of Metallurgical Mines' Association of China (MMAC).

Faced with the imperative tasks of meeting ultra-low emission renovation standards by the China Iron & Steel Association and realizing carbon emission peak by 2030 and carbon neutrality by 2060, China's steel industry, the country's second-largest carbon emission source, should strive to increase the usage of greener raw materials, Lei highlighted at Mysteel's 2023 14th