Emerging market steel producers dominate Brazil steel conference

Rapid economic growth in emerging markets is expected to continue driving worldwide demand for steel, boosting deals between companies based in nations like China and Brazil, executives said Thursday at an international steel conference.

Brazil's Compania Vale do Rio Doce SA, the world's largest iron ore producer, is seeking to attract foreign steel makers to Brazil, taking minority stakes in the new steel mills while guaranteeing the supply of ore, said Jose Carlos Martins, Vale's director of ferrous minerals.

Weixian Zhang, director of China's Sinosteel Brasil Metalurgica Trading Ltda. said his company is eyeing possible partnerships with a number of Brazilian iron mining companies, including MMX Mineracao e Metalicos SA.

''We are discussing some projects but there is nothing concrete. Maybe we would have something concrete by the end of the year,'' Zhang said, arguing that China must find new sources of iron ore to meet its demand.