CISA calls for acceleration of Chinese iron ore mining projects

The China Iron and Steel Association (CISA) has called on local ore producers to speed up key projects as the country seeks to reduce its dependence on imports from leading mining companies, according to Bloomberg.

After meeting with industry and government officials in late November, CISA Vice President Xia Nong said the association would step up efforts to ensure the stable operation of Chinese iron ore mines and promote supply-side structural reforms in the metallurgical industry.

According to a statement on WeChat, the meeting organized by CISA in Beijing was attended by officials from companies such as Baowu Resources, Ansteel Group Mining Co. and China Minmetals Corp.

The quality of Chinese-mined iron ore is generally low, so foreign supplies are critical for metallurgists. China imports more than 1 billion tons of this raw material per year. In 2022, the country created a state buyer, China Mineral Resources Group, to change the rules of the game in favor of local metallurgists and shift the leverage of global mining companies.

It should be noted that Chinese mining companies reduced iron ore production by 3.2% in January-October 2025 compared to the same period in 2024, to 851.74 million tons. In October, this figure was 84.03 million tons, which is 0.3% less on an annualized basis and 2.9% less than in the previous month.

Iron ore imports to China for 10 months amounted to 1.03 billion tons, which is 0.7% more on an annualized basis. In October, the figure decreased by 4.3% month-on-month to 111.31 million tons. The average import price was $100.6/ton (+3.7% month-on-month).