ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintIcon Twitter

Chinese steel output to grow 3-4%, says Fortescue CEO

Beijing's push for high-speed rail, airports to create demand despite trade war

Fortescue CEO Elizabeth Gaines says the company will continue to develop relationships with customers in Japan and South Korea.

TOKYO -- The head of Australia's Fortescue Metals Group, the world's fourth-largest iron ore supplier, expects Chinese steel production to keep growing despite an economic slowdown as government stimulus stokes demand.

Fortescue sees a "3% to 4% increase in crude steel production in China this year," based on discussion with "customers and other key figures" there, CEO Elizabeth Gaines told Nikkei on Wednesday during a visit to Japan. China, which accounts for half the world's crude steel output, churned out a record 928 million tons last year, up 10% from 2017.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more