China is world’s largest steel producer and consumer (See Graph from Chinatells). The strong growth of China’s steel demand is likely to continue into 2010. Such a growth prospect makes all the global iron ore producers put a great deal of their attention to China’s market (See Article from WSJ). With the global economy looking likely to walk out of the ’08 Financial crisis, China’s export is perceived to have a potential to grow (See Graph from Chinatells), and therefore the demand of steel gets a lot of bullish sentiment. Hopefuly such a demand growth also improves the negotiation power of China’s steel makers.