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China’s Extra Iron-Ore Need Seen at 55 Million Tons Next Year

China’s additional iron-ore requirements in 2013 may total between 45 million and 55 million metric tons, according to Paul Gray, principal iron-ore market analyst with Wood Mackenzie Ltd.

About 25 million tons will be needed to meet increased crude-steel production, Gray said today at the 7th EU Iron Ore Conference in Vienna. Steel-mill restocking will account for the remainder, he said.

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