In this paper, an analysis is made of the present situation in the Chinese steel industry and its demand for iron ores. It is shown that the demand for iron ores has been growing substantially with the rapid development of the steel industry all over the world, especially in China. However, the iron ore market is currently in the situation where supply exceeds demand due to the economic crisis, with more investment in mines and less output of steel for several years ahead all over the world. Gigantic pressure is confronting the Chinese steel mills due to the too high and irrational price of iron ores. It is time to return the price of iron ores to a normal position much closer to their value._x000D_
More attention has therefore been paid to developing low-grade and complex iron ore resources in China due to the irrational price of imported iron ores. More innovative mineral processing processes have been developed to tackle these complex resources. A systematic introduction to the development of beneficiation processes for low-grade iron ores is provided, including upgrading low-grade siderite, limonite, micron sized haematite and magnetite resources.