[ROVERNET - UK] Re: Rover & Shanghai

[Peter Huttemeier]

On Sun, 28 Nov 2004 09:54:40 -0800 (PST), you wrote:


>
>To your other point Eric, Does China have no iron
>reserves?

China is the world's largest steel producer, but has little supply of
raw materials. Australia is one of the largest suppliers of iron ore
and coking coal to China. At the moment our leading trading partner is
the US, China is forecast to overtake US (despite our recent Free
Trade Agreement with USA) in a few year's time. 

The fast growth of the Chinese market is putting upwards pressure on
the both the price of finished steel products as well as some raw
materials especially coking coal.


Cheers,

Peter H