Otmane El Rhazi from Mining Weekly | Ferrous Metals Home.
Major iron-ore miners from Australia and Brazil are unlikely to create a cartel and agree on output cuts to shore up prices, with weakening demand expected to intensify competition, Goldman Sachs said. "Efforts to support prices via voluntary production cuts would be counter-productive. In our view, competition in the iron-ore market can only intensify; we expect the war of attrition will continue while prices gradually decline towards our $40/t forecast by 2017," Goldman analyst Christian Lelong said in a report.
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