That’s good advice for working out the long-term direction of commodities prices. Ask mining companies which of their mineral assets will see good long-term demand and they’ll naturally answer, “All of them.” But a look at spending can give the lie to that rosy outlook.
The steel sector, which is on a consolidation mode now under the IBC process amidst strong domestic demand, is unlikely to witness any greenfield expansion as mill-owners are likely to go in for brown.
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