Otmane El Rhazi from Mining Weekly | Ferrous Metals Home.
Iron-ore giant BHP Billiton expects Chinese steel consumption growth to slow next year and has already adjusted its strategy to cope with a supply glut that has caused global prices to collapse, executives said on Thursday. "We anticipated the change towards current market conditions and the rebalancing of supply and demand after a period of massive expansion and a time when supply struggled with demand, we saw these changes coming a long way off," CEO Andrew Mackenzie told reporters.
Iron-ore giant BHP Billiton expects Chinese steel consumption growth to slow next year and has already adjusted its strategy to cope with a supply glut that has caused global prices to collapse, executives said on Thursday. "We anticipated the change towards current market conditions and the rebalancing of supply and demand after a period of massive expansion and a time when supply struggled with demand, we saw these changes coming a long way off," CEO Andrew Mackenzie told reporters.
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