Kumba Says Long-Term Iron Ore Outlook Positive

Mining Weekly reported Kumba Iron Ore (FWB:KUI) said the long-term iron ore outlook is good with demand expected to improve.

As quoted in the market news:

Global demand for iron-ore would remain dependent on steel manufacturing in China, which accounted for more than two-thirds of demand, but which had had a relatively subdued second half during 2011.

China’s crude steel production slowed towards year-end on lower steel prices and slower steel demand and was down 7% in the second half of the year compared with the first half.

Click here to read the full Mining Weekly report.