Chinese steel man says production won't reach billion tonnes predicted by big miners

By Peter Ker
Updated September 23 2014 - 8:18am, first published September 22 2014 - 11:00pm
Chinese steel industry heavyweight Li Xinchuang expects iron ore to hover at US$80 a tonne. Photo: Joe Armao
Chinese steel industry heavyweight Li Xinchuang expects iron ore to hover at US$80 a tonne. Photo: Joe Armao
Chinese steel industry heavyweight Li Xinchuang expects iron ore to hover at US$80 a tonne. Photo: Joe Armao
Chinese steel industry heavyweight Li Xinchuang expects iron ore to hover at US$80 a tonne. Photo: Joe Armao
Chinese steel industry heavyweight Li Xinchuang expects iron ore to hover at US$80 a tonne. Photo: Joe Armao
Chinese steel industry heavyweight Li Xinchuang expects iron ore to hover at US$80 a tonne. Photo: Joe Armao
Chinese steel industry heavyweight Li Xinchuang expects iron ore to hover at US$80 a tonne. Photo: Joe Armao
Chinese steel industry heavyweight Li Xinchuang expects iron ore to hover at US$80 a tonne. Photo: Joe Armao

China's steel industry is close to peak production and will not reach the highs predicted by big miners such as Rio Tinto and BHP Billiton, a Chinese steel official has told a conference in Melbourne.

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