Hunan (Platts)--29Nov2010/620 am EST/1120 GMT
China's net steel exports will reach 27 million mt in 2010, up from 6.97 million mt in 2009, according to a report by China's ministry of commerce released last Friday. The 2010 figures include total expected exports of 43 million mt and imports of 16 million mt, MOC said. Iron ore imports are estimated to total about 600 million mt in 2010, compared with 628 million mt in 2009. MOC expects China's dependence on imported ore to drop as China's domestic iron ore output has continued to grow steadily. Domestic ore output is expected to reach 1.1 billion mt (grading 30-35% Fe), compared with 880 million mt in 2009. MOC also estimates China's annual crude steel output will reach 630 million mt, up from 568 million mt in 2009. --Reggie Le, newsdesk@platts.comSimilar stories appear in Steel Markets Daily. See more information at http://www.platts.com/Products/steelmarketsdaily