BHP Says Belt and Road Initiative to Sustain China Steel Output
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China’s $1.3 trillion Belt and Road Initiative will help support steel output and export growth in the world’s largest producer for the next 10 years, according to BHP Billiton Ltd.
BRI projects could result in as much as 150 million metric tons of incremental steel demand, with 80 percent used in structures and reinforced concrete, and the rest going into machinery and other equipment, BHP said in a blog post Tuesday. Chinese suppliers are in prime position to provide steel input for developmental projects across the 68 BRI countries, it said.