Vale Sees No Slowing of China Ore Demand as Nation Builds 36 Million Homes

Bloomberg reports that Vale S.A. (NYSE:VALE,SAO:VALE5) sees no slowing down in China’s demand for iron ore as the country builds 35 million low-cost homes.

The market news is quoted as saying,

The country will continue leading global consumption of the steelmaking raw material as it invests in new dwellings and infrastructure, Cavalcanti said on Bloomberg Television’s “The Pulse with Maryam Nemazee” today in London. Difficulties in bringing new projects to the production stage will cause a demand-supply imbalance lasting six or seven years, he said.

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