China steel demand plateaus at a decent level, Vale’s boss says

Chinese steel demand “has definitely plateaued” due to property woes, though the Asian nation’s appetite for the material is still at a “decent level,” said the head of the world’s second-largest iron-ore producer.

Vale SA CEO Eduardo Bartolomeo said Thursday during an investment conference that he sees steel demand stalled for a while because China relies on real estate, though he’s expecting a move away from that industry.