Rio Expects China Iron Ore Demand to Rise This Year

Rio Tinto, (NYSE:RIO, ASX:RIO, LSE:RIO) a major producer of iron ore, said it expects Chinese demand for the steelmaking commodity to rise this year, Reuters reported.

As reported in the market news:

Alan Smith, president of Rio Tinto Iron Ore Asia, said that China’s demand for steel is expected to rise at a compound annual growth rate of 3% in the next decade.

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