2014/10/6 -- Recent debates conclusions on iron ore prices tend to control the supply of seaborne market three mining giants will win their bets, they can be high-cost producers out of the market. But the more important question is whether they have time to reach their goals?
Rio Tinto and BHP Billiton and Brazil's Vale with their low-cost iron ore flooded the market last year, the supply of iron ore in Western Australia has increased significantly.
This led to the Asian iron ore spot prices. IO62-CNI = SI fell in the second five-year low of $ 79.40 this week / ton, down 41% compared with the end of last year, compared with February 2011 had reached a record peak of $ 191.90 / t fell 58 percent.
The main issue is not whether the Big Three that they can be costly competitors into a corner, but their investors were able to lower the price of iron ore brought low profit tolerate long.