OREANDA-NEWS. December 07, 2011. An industry analyst forecast the growth rate of China’s demand for steel products to reduce to 4 to 5 percent because the country’s economic growth will likely be slower next year.

Domestic demand for iron ore would continue to grow next year, albeit at a slower pace.

There are more than 100 mining projects under construction around the globe, which could come on stream around 2013.

Coupled with existing projects, a turnaround would be in sight in 2013 and even a surplus in supply may well be expected from 2014 onward.