China’s 2025 steel demand to fall 1.5% on year, state research institute says
China's steel consumption in 2024 and 2025 is forecast at 863 million metric tons and 850 million tons, respectively.
Brazil’s Vale , the world’s top iron ore miner, expects prices of the steelmaking raw material to remain above $150 a tonne for at least the next five years on tight global supplies, the Financial Times reported on Thursday.
Guilherme Cavalcanti, Vale’s chief financial officer, said miners would struggle to meet booming Asian demand, according to the newspaper.
