Global iron ore, steel prices likely to shoot up with China demand

Beijing's proposed stimulus to slightly hit imports

With the Chinese government preparing to provide additional targeted stimulus to its infrastructure sector, industry officials in India are expecting a marginal drop in cheap Chinese steel imports. 

Global iron ore prices, however, are expected to go up, with the demand for the raw material in China expected to rise, as the country’s steel players are focusing on the domestic infrastructure sector. China is the world’s largest producer and consumer of steel. 

“There will be a drop in Chinese steel imports to India. But it won’t be sizeable, as China has already lowered overall steel exports by 8-9 per cent in the