It is reported that world’s largest mining company BHP Billiton Ltd does not expect a sharp rebound in commodities demand and sees a slow and protracted recovery in the global economy.

Mr Marius Kloppers CEO of BHPB said in Canberra that “We do expect to see stabilization in the next three to six months as the OECD finds its new base demand level and short-term stock issues in China are resolved.”

He added that “We, however, do not expect a sharp rebound as our view is that overall world economic recovery will be slow and protracted.”

Mr Kloppers said a recent jump in metals purchases from China appeared to be tied to projects funded under Beijing's massive economic stimulus plan. He said that "However, we have some residual concern in the very short term that there may have been some over-buying in anticipation of the stimulus package, which may have led to some stock-build ahead of real demand.”

(Sourced from Bloomberg & Reuters)