China stainless steel mogul fights to avoid a second collapse
A debt crisis is threatening the future of one of the world’s top stainless steel producers, Jiangsu Delong Nickel Industry.
The chief executive of global miner BHP Group BHP.AX said the company was positive about the growth of the Chinese economy this year, with green shoots already appearing.
“We remain quite optimistic about the pick-up of the Chinese economy in the course of the year,” CEO Mike Henry said on Tuesday at the AFR Business Summit in Sydney.
BHP last month reported a steeper-than-expected 32% fall in first-half profit owing to a drop in iron ore prices, but flagged a brightening outlook in China.
(By Lewis Jackson and Praveen Menon; Editing by Leslie Adler)
Comments