This photo taken on Feb. 25, 2023 shows unmanned vehicles transporting containers at an automatic container terminal at Qinzhou Port in south China's Guangxi Zhuang Autonomous Region. (Xinhua/Zhang Ailin)
BEIJING, March 13 (Xinhua) - "China is expected to remain the largest incremental volume contributor to global industrial value-added and fixed investment activity through the 2020s and likely well beyond," according to Huw McKay, vice president for market analysis and economic of Australian mining company BHP Billiton in BHP's economic and commodity outlook released recently.
China will remain an opportunity rich market for future facing commodities for many decades to come, he added.
Noting the future development of China's steel industry, BHP Billiton's preliminary forecast for steel production in 2023 and 2024 is still expected to remain in the 1 billion to 1.1 billion tonnes range. Chinese steel has been at this level for the past four years, and BHP expects the peak range to extend into the fifth or sixth year.
Looking to the future globally, McKay said that population growth, urbanisation, the infrastructure of decarbonisation and rising living standards are expected to drive demand for steel, non-ferrous metals, and fertilisers for decades to come. (Edited by Jiang Feifan with Xinhua Silk Road, 346129473@qq.com)
A single purchase
