BHP Billiton (BHP, BBL, BLT.L, BHP.AX) said it expects Chinese crude steel production to reach 1.1 billion tonnes per annum by 2025. This equates to a 650 million tonne per annum increase in global seaborne iron ore demand.
The outlook provides a major opportunity for BHP Billiton and its competitors.
The company noted that scrap generation is an increasingly important consideration post 2025. The availability of secondary iron units will constrain market growth in the very long term.
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