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China's iron ore demand is slowing
Tuesday, 20 March 2012
China's demand for iron ore has "slowed down". Growth in demand for
iron ore used to make steel is reported to be falling to "single digits
if not already occurred."
This is according to Ian Ashby, director of mining company BHP Billiton
at a press conference on Tuesday, reports Dow Jones Newswires.
BHP Billiton will, however, pursue its announced expansion plans in iron ore production, said Ian Ashby.
The comments saw the Australian dollar to lose value against the U.S.
dollar. BHP Billiton and Rio Tinto's shares fell slightly on the Sydney
Stock Exchange. BHP closed 0.1 percent lower and Rio Tinto fell 0.4
By Scancomark.se Team
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