Big iron ore miners turn up the volume

BHP Billiton, Vale and Rio Tinto are set to ramp up iron ore production, despite softening demand from China and a sinking price. The pressure’s on for smaller miners and Chinese steel producers.

The iron ore price continues to sink under the weight of two reinforcing influences, neither of which appears likely to abate any time soon.

The original crack in the price two years ago was due to softening demand for China as its authorities wrestled with an over-heated economy and financial sector.

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