10
Apr
01:00
Atlas Iron caves in to price pressure
Australia’s Atlas Iron has conceded defeat, saying it will cease its iron ore mining operations this month, according to an announcement on the Australian Stock Exchange. The news comes as prices fell well below Atlas’ cost levels and analysts expect more capacity will have to exit the market this year, Kallanish notes.
The miner says it had managed to reduce its costs to below $60/tonne on a 62% Fe benchmark basis. Iron ore prices have continued…
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Anonymous
Very good overview of the weekly steel market.
Anonymous