Rio Tinto says China shows growing iron ore appetite

Original article by Peter Ker
The Australian Financial Review – Page: 15 & 22 : 8-Apr-20

The head of Rio Tinto’s iron ore division, Chris Salisbury, notes that Chinese demand for the steel input remained strong while the nation was contending with the coronavirus earlier in 2020. He adds that China’s steel stockpiles have started to fall and Rio Tinto’s order books are full. Chinese steel mills buy more than 70 per cent of Rio Tinto’s iron ore, and China accounted for 51.3 per cent of the resources group’s revenue in 2019. Australia’s iron ore exports are forecast to top $101bn in 2019-20.

CORPORATES
RIO TINTO LIMITED – ASX RIO

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