Otmane El Rhazi from Mining Weekly | Ferrous Metals Home.
Despite this week’s price rally, bearishness is quickly returning to the over-supplied iron-ore business. Brazilian iron-ore giant Vale on Thursday reported an all-time quarterly iron-ore production high of 74.5-million tonnes in the three months to March 31, and the supply tide is about to be lifted further by 60-million tonnes a year from Rio Tinto’s expansion in Australia’s Pilbara region and another 55-million tonnes a year as Gina Rinehart’s new Roy Hill iron-ore mine is commissioned.
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