Big miners uncertain over China demand, pricing outlook
Producers should boost productivity, continue to review portfolios to focus on key commodities and regions: analyst
Melbourne
RIO Tinto Group, the world's second-biggest miner, is no longer certain of picking the path ahead for growth in China, its biggest customer. It isn't alone.
China's short-term demand remains difficult to read, Glencore Plc's chief executive officer Ivan Glasenberg said last month after the largest miners were wrong-footed this year by Chinese stimulus that's boosted raw materials demand, lifting prices following five straight annual declines. Rio now sees long-term targets as unhelpful, and has drafted a range of potential growth scenarios, with titles including "China Malaise" and "Fits and Starts", according to CEO Jean-Sebastien Jacques.
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