SHANGHAI – Chinese iron ore miners have called for an anti-dumping investigation into imports of the steelmaking raw material from top suppliers Australia and Brazil.
More than 20 Chinese miners in a statement on the Metallurgical Miners’ Association of China website said “a huge volume of low-priced imported iron ore has had a severe impact on the domestic mining industry and even posed a big challenge for the security of steel production”.
“The capacity of major iron ore miners has continued to grow and requires a massive Chinese market to absorb their great excess,” the statement posted on Tuesday said. Australia’s BHP Billiton and Rio Tinto, along with Brazil’s Vale, have embarked on massive expansion programs in recent years to supply the Chinese market.
“Vale, Rio Tinto and BHP Billiton which have dominated global iron ore trade have defied the market and are still expanding despite prices being low since their strategy is to use low-priced dumping to crowd out higher-cost miners,” the association said.
Rio Tinto declined to comment, while officials from BHP and Vale could not immediately be reached for comment.
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