The CISA pointed out in a report China is expected to produce more than 500 million tons of crude steel. The prices of steel in the latter half will continue to rebound, but perhaps in a wig-wag way. The problem of oversupply remains distinct with the lagging export situation unable to be reversed any time soon. The excessive imports of iron ore have distorted the normal supply and demand position, thus seriously disturbing the ongoing iron ore price talks.