China is looking beyond current suppliers like Australia to procure raw materials in future as its steel demand continues to grow, the chief executive of the world’s No. 4 iron-ore producer Fortescue Metals Group warned on Thursday.
Even as clouds gather over the global economy amid the bitter trade war between Washington and Beijing, Fortescue CEO Elizabeth Gaines told an industry event in Melbourne that China still has a considerable way to go before it reaches peak steel usage, predicting robust growth this year.