16.10.2008 - China pauses for breath – and knocks wind out of commodities boom
From Telegraph: Rio Tinto, the Anglo-Australian mining group, warned that the world’s biggest consumer of steel, coal, aluminium, copper and seaborne iron ore had started to show signs of a slowdown. Rio's shares, and those of rival BHP Billiton, fell almost 10pc, wiping almost £10bn off their market values. So much for decoupling. Miners like Rio and BHP are betting on China in a big way. The Middle Kingdom accounts for more than 40pc of the global growth in demand for major commodities, by Deutsche Bank estimates..... Full Article: Source
Print