China Knowledge reported that China, the world largest iron ore importer and steel maker may see its iron ore imports grow to 1 billion tonnes by 2015 boosted by strong demand

The figure was 60% more than the 619 million tonnes in 2010.

Mr Neville Power CEO of Fortescue Metals estimated that the global iron ore price would remain high next year.

Mr Zhang Changfu vice chairman of the China Iron and Steel Association said at a conference yesterday that the Chinese steel industry aims to achieve an iron ore self-sufficiency ratio of more than 50% by 2015.

In August, China iron ore imports grow 8.3%MoM to 59.09 million tonnes bringing its total iron ore imports to 447.57 million tonnes in the first eight months up by 10.6%YoY.