China accounted for a record 57 percent of the 2021 global revenue of London-based Anglo Australian metals and mining giant Rio Tinto Group Plc, the world's biggest iron ore miner.
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China: Low-carbon steel becomes top priority
As China pursues cleaner, low-carbon and more efficient steel sector development, analysts expect multinational companies will carry out deeper and higher-quality cooperation in the Chinese market this year despite the impact of the COVID-19 pandemic.
“China has led the global demand recovery in 2020, while overseas demand was hurt by COVID-19,” said Zhu Yi, a senior analyst for metals and mining at Bloomberg Intelligence.
“Exports from China could increase this year as overseas demand recovers, thus boosting China’s output of metals and imports of raw materials from overseas miners such as Rio Tinto, BHP and Vale,” Zhu said.