Vale says steel consumption demand in China has some way to go before it tops out
Comments from Claudio Alves, global director of ferrous marketing and sales at Vale:
- "China's steel consumption peak is still ahead of us, but of course the growth will be much more gradual"
- Cites further urbanization, infrastructure projects as underpinning demand for iron ore, steel, copper and other base metals
Not so, says ANZ & CS
- ANZ has brought forward its peak-steel estimate to 2014 from 2020 ... the peak ooccurred last year on the property downturn
- Credit Suisse Group forecasts China local consumption will shrink 10% by 2018 ... demand may contract to 695 million tons in 2018 from 773.7 million tons in 2013
Australian Financial Review article has more (may be gated, but give it a try at that link for more)
