Vale gearing up to meet Indian demand as China steel output stagnates, CEO says
Brazilian miner Vale is preparing to meet rising iron ore demand from India, which could double its steel production by the end of the decade, CEO Gustavo Pimenta told Reuters.
Rising sales to India and other Asian markets should help to offset stagnant demand from China, where steel production has flattened to near one-billion metric tons annually and could decline slightly in coming years, he said.