VALE SAYS THAT CHINA STEEL CONSUMPTION HAS SOME WAY TO GO

Vale reacted to claims steel consumption in China has peaked and, in a view that contrasts with a rising number of global banks, says demand in the top user still has some way to go.

"China's steel consumption peak is still ahead of us but of course the growth will be much more gradual," said Claudio Alves, Vale's global director of ferrous marketing and sales. Vale aimed to boost its market share, he said according to Bloomberg.