The CEO of world number two miner Rio Tinto said the quality of Chinese mining equipment is catching up and in some instances surpassing that of the major US manufacturers.
The spot market for copper is extremely tight with premiums over 3-month contracts touching 18-month highs and Indonesia's export ban adding uncertainty.
Statement after annual planning meeting warns of "downward pressure" on the world's second largest economy and the need to take "bold steps" to reform industry.