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Rio Foresees China’s Yearly Steel Output Hitting 1 Billion Tonnes in the Next 20 Years Despite Slowdown in Demand

By International Business Times,  November 11, 2012, 07:35:07 PM EDT

Despite cooling demand from China for steelmaking ingredients, Rio Tinto ( RIO ) forecasts Chinese steel output would still hit 1 billion tonnes in the next 20 years.

Vivek Tulpule, chief economist of Rio Tinto, said the rise by one-third from current production levels is based on the ongoing slowdown in demand which will nevertheless result in higher output from the present 732 million tonnes.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Commodities

Referenced Stocks: RIO



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