Demand for iron ore still looks positive in China as the world`s second largest economy continues to develop, said Fortescue Metals CEO Nev Power.
"Longer-term, China is looking good in terms of economic development, so we see consistent steel demand and therefore consistent demand for iron ore going forward," Power told CNBC on the sidelines of Macquarie`s Australia Conference.
There have been concerns about a slowdown in growth in China, which is the world`s largest consumer and importer of iron ore, but Power said the country will remain key for the sector.
Fortescue is the world`s fourth largest producer of iron ore, used in steel-making.
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