SOURCE: Industrial Info Resources

Industrial Info Resources

August 10, 2011 06:15 ET

Strong Global Demand, High Commodity Prices, Create Opportunities in Metals & Minerals Industry, a "Navigating the Currents of Change" Webcast on

SUGAR LAND, TX--(Marketwire - Aug 10, 2011) - Written by John Egan for Industrial Info Resources (Sugar Land, Texas) -- Continued strong growth in the Chinese and Indian economies is helping keep prices for various metals and minerals aloft, while driving capital spending around the world, Joseph Govreau, Industrial Info's vice president of research for the Metals & Minerals Industry, said in an exclusive "Navigating the Currents of Change" interview.

China's second-quarter 2011 gross domestic product grew 9.5% over the comparable year-earlier quarter, according to China's National Bureau of Statistics. That torrid pace followed a 9.7% increase in first-quarter 2011 economic growth compared to the first quarter of 2010. China, the world's second-largest economy, is rapidly industrializing to meet rising demand for energy, basic materials and consumer goods. Such rapid economic growth has fanned concerns about inflation in the country.

Meanwhile, India's economy grew 8.5% in the fiscal year that ended March 31, 2011. This was an increase over the 8% annual GDP growth posted for the prior fiscal year. India's economic growth has averaged 7% per year since 1997. The world's fifth-largest economy has been deregulating industries and privatizing state-owned businesses, leading to a massive growth in industrial project spending to meet the needs of a growing consumer economy.

"China and India continue to experience very strong economic growth," Govreau said in the "Navigating the Currents" interview. "Their steel industries are expanding. Increasingly, they are importing iron ore and metallurgical coal from the U.S. to meet rising demand for steel."

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    Joe Govreau