Chinese demand for iron ore cut in half

Canberra: China’s demand for iron ore has slowed by more than 50% and could drop further, a BHP Billiton executive warned at a conference in the Australian capital on Wednesday.

“The pace of demand of iron ore from China has slowed down by more than half and the mining industry's expanded supply at a very considerable pace," said Alberto Calderon, chief executive of BHP's aluminum and nickel and corporate development divisions.

Instead of iron ore Calderon reckons that China's next phase of economic growth could see it snapping up plenty more copper, aluminum, gas and crude oil.  [20/09/12]

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