Iron ore price slumps to three-week low on weak China demand, strong global supply
Property investment in China fell 10.1% in the first half of 2024 from a year earlier.
Chinese gold demand could rise over 22 percent in the next three years and sharply outpace domestic production, the head of the country’s largest state-owned gold miner China National Gold Group said on Thursday, signalling room for a strong ramp up in imports.
Gold production should reach 400 tonnes by 2014, a gain of nearly 19 percent from 2010, but consumption is set to grow by nearly a quarter to 700 tonnes, Sun Zhaoxue, president of the group, told reporters at the sidelines of a conference in Shanghai.