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.
