According to Luciano Siani, Director of Finance and Investor Relations of Vale, Chinese steel production is expected to grow about 3% in a period of between 5 to 10 years.
He pointed out Chinese steel production is already growing below the GDP growth rate for some time.
The director said his company is working at this time for "gain more from less". Therefore, the investment in the next year will be lower than this year's US$12.4 billion.
Also, he said the company will focus investment over iron ore mining which is core business for the company rather than other investment. To finance its partners is also possible investment, he said.
Source:
http://www.yieh.com/2.2.01.01stainlesssteelnews.aspx?no=61743&division=A6
