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Rio Tinto Says Chinese Steel Demand To Peak In 2020

By Alex MacDonald LONDON--Chinese steel demand will continue to grow and will peak in 2030 as the world's largest consumer of many commodities starts to adjust to consumer-led economic growth from investment-led growth, the chief economist of mining titan Rio Tinto (RIO) said Wednesday. Rio Tinto, the world's second-largest iron ore producer by output after Brazil's Vale SA (VALE), said it forecasts Chinese steel demand to peak at around 1 billion metric tons of crude steel production in 2030. Rio's views broadly mirror similar forecasts made by BHP Billiton, the third-largest iron ore producer, which expects Chinese steel use to plateau after 2025. "Over time, we expect Chinese consumers to take over as the main driving force of the Chinese economy," Vivek Tulpule said in his outlook for metal and minerals report. "This transition will be a multi-year process [and as such] we still expect China‟s demand for many commodities to continue growing in coming years, before reaching a peak over the next twenty years. Mr Tulpule said that between now and 2030, India and countries in South East Asia are expected to become increasingly important sources of demand for commodities including steel. Write to Alex MacDonald at [email protected]

Stock News for Companhia Vale Do Rio Doce (VALE)
DateTimeHeadline
03/21/201714:30:30Amended Report of Foreign Issuer (6-k/a)
03/21/201706:09:13Report of Foreign Issuer (6-k)
03/17/201706:03:41Report of Foreign Issuer (6-k)
03/16/201721:06:00Judge Suspends Lawsuit Against Firms Involved in 2015 Brazilian...
03/16/201706:05:15Report of Foreign Issuer (6-k)
03/10/201708:57:35Report of Foreign Issuer (6-k)
03/08/201717:22:00ADRs End Lower; Petrobras Trades Actively
03/03/201712:34:16Report of Foreign Issuer (6-k)
02/25/201703:02:00Vale's CEO to Exit Amid Political Pressure -- WSJ
02/24/201717:04:18Report of Foreign Issuer (6-k)
02/24/201716:52:00ADRs End Lower; Baidu, Grana y Montero Trade Actively
02/24/201713:09:06Report of Foreign Issuer (6-k)
02/24/201713:07:00Vale CEO Murilo Ferreira to Step Down in May -- 2nd Update
02/24/201710:39:00Correction to Vale CEO Story
02/24/201709:49:00Vale CEO Murilo Ferreira to Step Down in May -- Update
02/24/201708:51:00Vale CEO Murilo Ferreira to Step Down in May
02/23/201715:34:00Vale Dusts Off Crystal Ball, Sees $70-$75 'Floor' for Iron Ore
02/23/201708:10:47Report of Foreign Issuer (6-k)
02/23/201708:10:27Report of Foreign Issuer (6-k)
02/23/201708:10:27Report of Foreign Issuer (6-k)

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