Rio Tinto Should Be Worried

You’re concerned about the slowdown in China’s economy. It bothers you that industrial output has plunged to the weakest levels since 2008. You're unsettled that the China Iron & Steel Association "can't see any bright spots" for the metal that's driven the country's urbanization. You’re perturbed Jim Chanos thinks the world's second-biggest economy is heading the same way as Japan in the 1990s.

Stop fretting: Rio Tinto, the world's second-biggest iron ore miner, says China's going to be O.K. The world should stop focusing on daily price gyrations for the steelmaking metal and concentrate on the long-term trend, Chief Executive Officer Sam Walsh told Bloomberg's Jesse Riseborough and Ryan Chilcote over the weekend. The company's analysts have been "very, very careful" in their forecasts that iron ore demand will reach 3 billion tons by 2030, up about 36 percent from last year, Megan Clark, a non-executive director at the miner, told a Bloomberg Summit in Sydney today.