Sydney: Following a detailed 18 month internal study, the managing director of the world's largest mining company says steel production in China is set to double by 2025.
BHP Billiton chief, Marius Kloppers, has told the ABC's Inside Business that he's optimistic about commodity prices, especially for iron ore and coking coal.
Mr Kloppers says his company started analysing Chinese supply and demand some 18 months ago, and found it looked positive for Australian exports.
"So we did a bottom-up analysis. How many buildings, what is the steel intensity and so on," he said.
"We think that this trend is going to go on for the 20 years that we've forecast." [15/02/10]
Copyright © 2024. All rights reserved. Seatrade, a trading name of Informa Markets (UK) Limited. Add Seatrade Maritime News to your Google News feed.
