Rio Tinto Predicts Weaker Iron Ore Demand

Bloomberg reported that the Rio Tinto Group (NYSE:RIO) has predicted a weaker short-term demand for iron ore because of China’s shift from infrastructure centered growth.

As quoted in the market news,

China, which consumes about two-thirds of seaborne iron ore,  saw imports fall in May, highlighting weakening demand, according to Goldman Sachs Group Inc. Prices touched a decade low in early April.

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