05.02.2013 - Global iron-ore demand expected to reach 2.6-bln tons
Global demand for iron ore is expected to reach 2.6-billion tons in the next seven years, with China poised to remain the biggest consumer of the steel-making ingredient, Diedrik Tas, partner at commodities search firm McKinsey & Co, told attendees at the Mining Indaba in Cape Town on Monday. Prices were also to remain high, Mr Tas said, but he warned that this would not be due to increased demand, but rather a function of rising operating costs. Iron-ore prices are closely linked to growth in the steel markets. Over the past year, prices have wavered as the slowdown in China’s economic growth led to lower demand for the metal............................................Full Article: Source
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