Photo: BHP Billiton
Ian Ashby, President of Iron Ore for BHP Billiton just gave a presentation at the AJM Global Iron Ore & Steel Forecast Conference in Australia.And investors weren’t too thrilled to hear what he had to say about China.
“Growth is going to flatten off,” BHP’s iron ore division president, Ian Ashby said ahead of the Global Iron Ore & Steel Forecast Conference in Perth, adding that demand growth was seen falling into single digits.
”Growth will be less than what it has been, those times have been exceptional,” he said. ”There is still tremendous opportunity to grow our iron ore business.”
Weak iron ore demand from China isn’t just bad news for BHP Billiton. It could be a sign that China’s economy is slowing by more than most think, which would have significant implications for the global economy.
Ashby’s 21-slide presentation included 5 that addressed China’s economy.