According to the Australian company Rio Tinto, the overall economic outlook in the Asian country is good. Therefore, the company was not negatively affected by the fall in demand for steel in China.
In March this year, iron ore prices in China decreased by 25% to $132.18 per ton. The reason for this drop is said to be the stagnation of China's economic activity.
Jacob Stausholm, chief executive officer of Rio Tinto, said in a statement:
"The iron ore price is actually much higher compared to October last year, when it was below $80. "Iron ore may be a little bit underutilized right now, but that could come back in a month or two. So I'm not too worried about that."
Comments
No comment yet.