05
Feb
00:00
290 million t/y of iron ore mining remains unprofitable
In its latest report, Morgan Stanley says that 170 million tonnes/year of iron ore mining capacity closed in 2014 and another 290m t/y remains unprofitable at current prices. The capacity is spread largely across China, Australia and the USA, Kallanish notes.
So far, production has been slow to decline in spite of many mines and concentrators losing money. This has only further eroded prices as availability has remained in excess of demand.
Morgan Sta…
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Anonymous
Very good overview of the weekly steel market.
Anonymous