07
May
01:00
Rio expects more global iron ore closures
Rio Tinto chief executive Sam Walsh told shareholders on Thursday that 85 million tonnes/year of iron ore mining capacity is certain to leave the market in 2015 and another 80m t/y are at risk, none of it owned by Rio. Steel prices have tumbled on oversupply and the exit of higher costs producers will be necessary for prices to eventually recover, but some capacity has proved resistant to closure, Kallanish notes.
Walsh’s comments came in the same spee…
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Anonymous
Very good overview of the weekly steel market.
Anonymous