BHP Billiton sees China’s iron ore demand turning slow
The world’s largest miner, BHP Billiton said it observed the signs that iron ore demand from China may turn slow. However, it will keep its production expansion plan.
Earlier this month, China has cut its 2012 target to an eight-year low of 7.5%. From the past years, China has projects in rural areas to construct in town and cities in next decade and demand significant amount of steel for housing and infrastructure.
BHP Billiton will maintain its US$10 million iron ore expansion plan and raise its capacity of 165~ 170 million tons a year, from current production guidance of 159 million tons in fiscal year ending June 30.
News Date 20 Mar 2012 15:35:42 reported by Judy Lin