Replies to post #7929 on The Rising Influence of Rising Affluence

[DewDiligence]

Steel tubing for shale oil-and-gas drilling is generating demand for steel that easily outweighs the effect of aluminum substitution in autos. Moreover, it remains to be seen if consumers will warm to aluminum cars in a big way.

[DewDiligence]

VALE CEO comments on iron-ore prices:

http://finance.yahoo.com/news/vale-ceo-murilo-says-drop-213431927.html

The fundamentals of the Chinese economy remain solid and the recent drop in iron ore prices is temporary, Murilo Ferreira, chief executive of Vale , the world's largest iron ore miner, said on Tuesday.

Iron ore prices on the Chinese spot market have fallen 8.2 percent since the beginning of the year to $123.20 a tonne, their lowest level in six months, according to Steel Market Intelligence newsletter.

"There was a recent toughening in credit policy in China and the steel companies were certainly affected," Ferreira told reporters after a meeting at Brazil's Mines and Energy Ministry. "The companies have ended up working with lower stocks, but that is a transitory position," he said.