China iron ore demand 'strong' despite trade spat: Fortescue
Australian mining giant Fortescue says trade tensions and slowing economic growth in China have not dampened demand for iron ore, the raw steelmaking ingredient, with Chinese steel production running at an annualised rate of nearly a billion tonnes in October.
Elizabeth Gaines, chief executive of Fortescue Metals Group, said the demand for its iron ore in China remained "very strong", but echoed industry concerns about the uncertainty surrounding the worsening trade spat between US and the Chinese governments, which have been imposing stiff tariffs targeting each other's imports.
