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CNBC reported BHP Billiton (ASX:BHP) and Rio Tinto (ASX:RIO) are set to report this week solid iron output for the September quarter, but prices and cost will be the top concern for the miners.
CNBC reported BHP Billiton (ASX:BHP) and Rio Tinto (ASX:RIO) are set to report this week solid iron output for the September quarter, but prices and cost will be the top concern for the miners.
As quoted in the market news:
The production reports by BHP, the world’s biggest miner, and Rio Tinto, the No.3 miner, will be closely watched for signs of how weaker consumption of steel in China is playing out on demand for commodities such as iron ore and coal.
Weaker demand for resources is fueling worries that a decade-long mining boom in Australia is faltering. BHP and Rio have in recent months been cutting jobs, closing coal mines, shelving expansions, selling assets and scaling back spending.
Click here to read the full CNBC report.