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BRIEF-BHP Billiton comments on global iron ore & steel industry forecast

Published 08/03/2016, 12:49 pm
Updated 08/03/2016, 12:50 pm
© Reuters.  BRIEF-BHP Billiton comments on global iron ore & steel industry forecast
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March 8 (Reuters) - BHP Billiton (LON:BLT) Ltd BHP.AX :

* Global iron ore & steel forecast conference presentation

* BHP Billiton is meeting the challenges of the global iron ore market through a focus on productivity

* Chinese government's steel industry restructure plans will take time to implement

* "Short-term market outlook remains challenging"

* "Continue to increase our productivity in port and rail as we approach our targeted run rate of approximately 270 million tonnes per annum"

* Basto reiterated that the mining industry would need to continue to meet the challenges of a lower price environment through productivity

* Demand growth in China will remain weak in the short term

* Expect China's crude steel production to peak between 935-985 mt in the mid 2020s

* Productivity drive has supported an EBITDA margin of over 50 per cent at WAIO despite the iron ore price halving since 2012

* Basto reinforced company's commitment to Western Australia and its local communities

Source text for Eikon ID:nASX82rM8k

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