Rio Tinto, one of China’s largest iron ore suppliers, is confident that a recent pick-up in activity in the country’s manufacturing sector will be sustained despite a property slowdown.
Jakob Stausholm, chief executive of the Anglo-Australian miner, said the property sector remained “challenging”, but Chinese steel mills, the biggest market for Australian iron ore, were “producing flat out”.
He added that demand from China’s “seriously booming” infrastructure and automotive sectors would help offset lower demand from property.
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