China bought a record 1.08 billion tonnes of the steelmaking raw ingredient last year, the second successive year in which purchases crossed the 1-billion mark. Following a surge in demand in recent years , an official from China 's largest listed steelmaker , China , has claimed that iron ore demand in the country has already peaked and is expected to stay flat . Chinese imports of the material passed the one billion ton mark for the second consecutive year in 2017 , with steel mills focusing on high quality iron ore due to steep government - imposed emissions curbs . However , Wang Chao , an assistant to the company president , said mini mills that use only heavy metals as feedstock are expected to rise as scrap stockpiles grow .
Following a surge in demand in recent years , an official from China 's largest listed steelmaker , China , has claimed that iron ore demand in the country has already peaked and is expected to stay flat . Chinese imports of the material passed the one billion ton mark for the second consecutive year in 2017 , with steel mills focusing on high quality iron ore due to steep government - imposed emissions curbs . However , Wang Chao , an assistant to the company president , said mini mills that use only heavy metals as feedstock are expected to rise as scrap stockpiles grow .