Reuters – LAUNCESTON, Australia, July 27 (Reuters) – There is something of a delicious irony in China’s iron ore miners complaining of dumping by foreign producers, but what it really underscores is the multitude of challenges facing the world’s biggest steel industry.
The domestic miners want an anti-dumping investigation into iron ore imported from the world’s top suppliers, complaining that low-cost majors – Brazil’s Vale and the Anglo-Australian pair of Rio Tinto and BHP Billiton – are flooding the market.
“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,” more than 20 Chinese miners said in a statement on the website of the Metallurgical Miners’ Association of China.
The call for protection from foreign miners comes against a backdrop of increasing anti-dumping measures on Chinese steel in markets such as Europe, India and the United States.
The Chinese miners’ call for measures against iron ore imports can be viewed as the latest salvo in this ongoing war, although it’s quite some way to go from a statement on an association website to the authorities in Beijing actually imposing measures.
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