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Reuters reported Rio Tinto (NYSE:RIO) sees no slow down in the iron ore market as steel demand continues in China.
Reuters reported Rio Tinto (NYSE:RIO) sees no slow down in the iron ore market as steel demand continues in China.
As quoted in the market news:
Some Chinese buyers have defaulted on coal and iron ore contracts and others are deferring deliveries following a drop in prices, traders said this week.
But Sam Walsh, the head of Rio Tinto’s iron ore division, said the company was seeing little evidence of such turmoil.
