FMG call for iron ore output cap may be ‘grave concern’, regulator says

Australia’s competition regulator has hit out against comments made by Fortescue Metals Group (FMG) chairman Andrew “Twiggy” Forrest this week, which called for iron ore producers to limit their output.

Miners should work together to combat the oversupply issues plaguing the market, Forrest said at a meeting in Shanghai on Tuesday March 24. Hundreds of millions of tonnes of new iron ore supplies have come to the market in the past year, helping to drive spot prices down to their lowest levels in six years. Metal Bulletin’s 62% Fe iron ore index skirted lows...


March 25, 2015

12:54 GMT