Growing populations need raw materials, banker says

Mar 13, 2013 | 03:23 PM | Corinna Petry

Tags  steel, iron ore, coal, global population growth, infrastructure, Robert Miller, Miller Mathis, Platts 9th Annual Steel Markets North America Conference Corinna Petry

CHICAGO — India and the Middle East represent the best prospects for future steel demand growth, according to Robert M. Miller, chief executive officer at investment bank Miller Mathis Group Inc.

"India may hold the opportunities that people used to think would develop in China," Miller said at Platts’ 9th Annual Steel Markets North America Conference in Chicago.

India currently produces 80 million tons of steel per year, but some experts say the market could grow to 200 million tons by 2020 thanks to a middle class of some 300 million people.....

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