Iron Ore Prices Dropping Fast:
The price of iron ore has dropped dramatically since its peak in February of 2011. Imports to China’s Tianjin Port have seen a price decline of 66.5%.
Producers Facing Loss:
According to ANZ Research, manyย iron ore producers are facing losses if they continue production. ANZ states,ย “BHP and Rio are the lowest-cost producers and are the only ones making decent profits at the current price. Brazilโs Vale is marginal and analysts say Fortescue is now losing money (which Fortescue disputes).”
ย Mining in the Pilbara:
