China boosts iron demand

Rio Tinto expects to see
at least 40 million tons of
additional iron ore supply
coming on stream in 2017.
According to Elias
Scafidas, who oversees Rio
Tinto’s Simandou iron ore
project in Guinea, strong
margins are expected in
the iron ore business for the
coming year.
“Most iron ore producers
faced significant volatility
in 2016 and there is
increased uncertainty in
the global market – with
the potential to impact not
just commodities but also
currencies, growth and
industry fundamentals,” he
said. “Stimulus from China
due to ongoing infrastructure
investment played a big role
in 2016 and the country
remains a focus for us. We
expect ongoing stimulus in
the China market.”