China Metal Demand to Rise at Low Single-Digit Rate

Rio Tinto Group Chief Executive Officer Tom Albanese said Chinese metal demand will rise at a ¡°low single-digit¡± rate in 2009.

¡°This is much slower than the over 20 percent rates of growth realized in recent years and will not be enough to offset a much bigger decline in consumption in other markets,¡± Albanese said today in a speech at a shareholder meeting in London.

¡°Given the development of a large stock and capacity overhang, prices seem unlikely to be able to stage much of a sustained rebound during the year.¡±

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