Australian mining giant Rio Tinto believes that the global iron ore supply oversupply will persist for several years, with the market reaching a balance of supply and demand in a maximum of 7-10 years.
The iron ore market remains in surplus, as it has been for the past two years, but the mining giant has not yet reduced production, but even increased production.
China is the world's largest consumer of iron ore. China remains an important market for Rio Tinto. The company expects China's economic conditions to have some impact on the price of iron ore.
Rio Tinto expects China's economic outlook to provide cautious optimism for iron ore market
Rio Tinto: iron ore market will reach equilibrium within 7-10 years
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