Chindia you ain't seen nuthin' yet THE SMH 23 Sept 2010
....Over the past 30 years, nearly 400 million Chinese have moved to the cities. There are some 170 Chinese cities now with more than one million residents compared with only 35 in all of Europe. The urbanisation process has a long way to run with another 300 to 400 million people expected to move from the country to the city over the next 20 years. A typical 90 square-metre apartment in China requires about six tonnes of steel. Every tonne of steel requires around 1.7 tonnes of iron ore and more than half a tonne of coking coal. You can work it out from there.
And that's just high-rise apartments. China is building railways like no-one ever has and every 10km of metropolitan subway requires about 75,000 tonnes of steel. And so on.
BRM Price at posting:
$3.69 Sentiment: LT Buy Disclosure: Held
