According to the report compiled by MIIT, Chinese steel products imports and exports are anticipated to reach 15 million t and 50 million t respectively in this year. Meanwhile, Chinese iron ore imports are expected to surge by 8.2% from 2011 to 730 million t in 2012. And the domestic crude steel production and apparent consumption in 2012 are predicted to stand at 730 million t and 690 million t respectively.
In addition, the MIIT also proposed the domestic steelmakers to escalate their core competence through innovations and by all means to develop the high value-added products in 2012.