Fortescue slashes iron ore output costs by 43%

摘要

Fortescue Metals Group chief executive Nev Power said Monday that iron ore supply and demand were "broadly in balance", which should temper the growing influence of derivatives and futures trading on physical iron ore prices. He expected China?s attempts to curb steel production - as part of its supply-side reform agenda - would help to support steel and iron ore prices amid ongoing urbanization of China's central and western regions.