China is the world's largest steel producer, consuming two-thirds of the world's iron ore every year, and is highly dependent on imported iron ore.

According to the report, China is now gradually reducing the import of iron ore, and has reached an agreement on mining resources in Indonesia, Ghana, Congo and other countries. In addition, the Democratic Republic of the Congo exported iron ore for the first time on April 19, and the destination was China.

It was reported that Australia has previously controlled iron ore pricing and often raised the price of iron ore. In order to break this situation, in addition to China's launch of the international version of iron ore futures in May last year, China is also intending to reduce its dependence on Australian iron ore.

As China's self-sufficiency in iron ore increased, the annual import volume of iron ore in China will gradually decline.