Iron ore importers face limits

China's steel and iron ore industries agreed to limit the number of local iron ore importers, as the rule requiring iron ore importers to acquire licenses takes effect, state media reported. China is the world's largest importer of iron ore, with its import volume growing to 208m tons in 2004, an increase of 40.5% year-on-year. The licensing scheme was seen as a move by Beijing to curb ore imports.