Brazil's growing steel demand tightens ore supplies http://www.reuters.com/article/companyNewsAndPR/idUSN2629426520071026?sp=true
Fri Oct 26, 2007
By Andrei Khalip
RIO DE JANEIRO, Oct 26 (Reuters) - Brazil's steel industry is forging ahead on growing demand from an expanding economy, adding to upward pressure on iron ore prices, while foreign steelmakers are moving in to get closer to ore reserves, sector experts said.
Brazilian crude steel output in the first nine months of this year soared about 10 percent on year-ago levels to 25 million tonnes, led by demand for long-rolled steel from the civil construction sector and the car industry as Brazil's interest rates fall and salaries rise. http://www.reuters.com/article/companyNewsAndPR/idUSN2629426520071026?sp=true