Surging output of iron ore in Chinaplus excessive import lead to the overstock in the first half year.

    China in the first half of this year saw large and medium minesyield 391.3788 million tons of iron ore, up 25.82 percent, or 80.3243mln tons, year on year, said Luo Bingsheng, Vice Chairman andSecretary-general of China Iron and Steel Association.

    Due to lower profile of the newly increased iron ore, about 42.32percent could feed blast furnace.

    The output of pig iron in blast furnace of the first half was 246.

    4218 mln tons, up 18.0296 mln tons year on year. Chinese mines couldsave about 6 mln tons of iron ore after satisfying the need.

    The imported iron ore amounts to 230.0418 million tons in thefirst half, up 22.42 percent year on year, and 63.40 million tonswere still piled up at China's 18 major ports, according tostatistics in July.