Iron ore surplus not to rise in 2015 due to shutdowns of small mines and adjusted Vale plans

摘要

Despite expectations, iron ore surplus will not increase this year as shutdowns of small Australian, Canadian and many Chinese mines will offset a major rise in supply from Rio Tinto and BHP Billiton. Besides, even such leaders as Vale have started cutting production targets in view of price drops. This year, Australian largest iron ore producers, mostly Rio Tinto, will push up the output by 102-110 million t. Despite delaying long-term programme for raising capacities, BHP Billiton, the second largest group in Australia, has kept its production target unchanged for this year.