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Fortescue Metals Sees Iron Ore Demand Increasing on China Urbanization
Sep. 19, 2014 09:47AM PST
Base Metals Investing According to Bloomberg, Fortescue Metals Group (ASX:FMG) chairman Andrew Forrest believes that long term iron ore demand is set to rise on the back of widespread urbanization in China.
According to Bloomberg, Fortescue Metals Group (ASX:FMG) chairman Andrew Forrest believes that long term iron ore demand is set to rise on the back of widespread urbanization in China.
As quoted in the publication:
About 600 cities in China, each of about 10 million people, will be constructed over the next 30 years, Forrest said in a Bloomberg Television interview today. While there’ll be so-called dips and roundabouts, the curve will be upward, he said.
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