When CISA talks the talk, the markets sit up a bit. They will need to produce another 25 Mt at least to meet their self imposed target:"He Wenbo, chairman of the China Iron & Steel Industry Association (CISA), recommended at the Chinese People’s Political Consultative Conference (CPPCC) in Beijing that China should set a “national strategic goal” of keeping its domestic iron ore output at more than 20% of total demand.
China is the world’s top iron ore consumer, with its demand set to hit 1.225 billion tonnes in 2020, according to a government think tank. But it has a heavy reliance on imports, having shipped in 1 billion tonnes of ore in 2019."
Iron ore price, page-21650
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