The Rising Influence of Rising Affluence

[DewDiligence]

Musings on China’s steel production (from Monday’s WSJ):

http://online.wsj.com/article/SB10000872396390444799904578051973973705626.html

…miners and market analysts say Chinese steel demand will continue to grow, albeit at a slower pace. Peak demand is still some way off, they said.

"It is virtually impossible to find scenarios where Chinese steel consumption peaks within five years," said Paul Gray, consultancy firm Wood Mackenzie's principal iron-ore market analyst.

Its base-case scenario is that Chinese steel demand will peak in 2028, at 894 million tons. This year, the firm expects Chinese steel demand to total 632 million tons, followed by 660 million tons of demand in 2013.