Chinas demand for iron ore still has plenty of growth
potential, according to Vale SA executive director for ferrous
and strategy Jose Carlos Martins.
"China is far from
reaching the same level of accumulated steel consumption of the
developed nations," he said Sept. 25 at the 13th China
International Steel and Raw Materials Conference in Qingdao,
adding that urbanization trends indicate further potential for
Chinas steel consumption.
projects would enable the Brazilian iron ore major to deliver 1
billion tonnes of iron ore to China over the next six years,
the same volume it shipped over the past 40 years.
The miners production capacity is expected to reach
450 million tonnes per year in 2018 compared with a current
capacity of 306 million tonnes annually.
A version of this
article was first published in AMM sister publication Steel