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BHP says surprised by China steel sector strength

Wed Nov 25, 2009 7:52pm EST

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BRISBANE, Nov 26 (Reuters) - BHP Billiton Ltd/Plc (BHP.AX) (BLT.L), a major supplier of iron ore to steel mills globally, said on Thursday it was surprised by the continuing strength of China's steelmaking sector in the face of tough international conditions.

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"One element that continues to surprise us... is the resilience of the Chinese steel sector, Chief Executive Marius Kloppers told shareholders at the company's annual general meeting.

"Outside of China, we saw steel capacity usage fall to 50 percent in the three major steel markets of the U.S., Europe and Japan," he said. ((jim.regan@thomsonreuters.com; +61-2 9373-1814; Reuters Messaging: jim.regan@reuters.net)) ((If you have a query or comment on this story, send an e-mail to news.feedback.asia@thomsonreuters.com))
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