Economics
Iron Ore Slump No Bar to Supply as China Mines Shut: Commodities
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The world’s biggest iron ore producers are targeting record shipments as lower output costs offset plunging prices and less competitive mines in China shut.
Vale SA, Rio Tinto Group, BHP Billiton Ltd. and Fortescue Metals Group Ltd. are still making money even after prices of the steel-making ingredient dropped 37 percent since December to the lowest level since 2009. They’re betting that higher-cost producers will be squeezed out of the market.