Iron ore imports poised for 15% growth

China's iron ore imports are set to rise to around 900 million metric tons this year, a 15 percent year-on-year growth, on the back of the country's growing steel production base and higher output capacity of overseas mining giants, experts said on Friday.

Chen Kexin, chief analyst of Beijing-based Lange Steel Information Research Center, said China's iron ore imports will increase in 2015 with an annual growth rate of 10 percent or more to about 1 billion tons.

"The main driver for the huge growth is the international mining giants' strategy of expanding iron ore production capacity to gain more market share," Chen said.