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Miners' billions at stake as China's peak steel nears

World Steel Association sees output reaching its zenith in three years, prompting plant closures

Published Sun, Nov 23, 2014 · 09:50 PM

London

CHINESE President Xi Jinping obviously wasn't speaking for the world's iron-ore producers when he pronounced this month that the risks from his country's slowing growth "aren't that scary".

Mining giants have wagered US$120 billion on belief that steel production in China won't peak until as late as 2030.

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Miners' billions at stake as China's peak steel nears

Energy & Commodities

Oil ends slightly firmer after US crude stock draw, firmer dollar

World’s biggest tea buyer Lipton’s sale of last farms is a strategy shift

Insurance firms deny Chevron’s US$57 million claim for Iran oil seizure

China's approves first gene-edited wheat in step to open up GM tech to food crops

Shell to sell Singapore oil refinery, chemicals assets to Glencore joint venture

Gold prices hold ground as traders eye US Fed cues

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