Seaborne Iron Ore Market Remains Uncompetitive - World Steel
19 Octubre 2010 - 6:06AM
Noticias Dow Jones
The seaborne iron ore market remains uncompetitive despite the
decision by mining majors BHP Billiton Ltd. (BHP) and Rio Tinto
Ltd. (RTP) to terminate a planned iron ore joint venture in
Australia, the World Steel Association said Tuesday.
"We are obviously pleased that this joint venture is no longer
going ahead," World Steel director general Ian Christmas said.
"However, the decision not to proceed with the JV does not
address the already uncompetitive nature of the seaborne iron ore
market where the top three mining companies have a combined share
of about 70%," Christmas said.
He noted that the largest steelmaker globally in comparison
controls 10% of the steel market.
-By Devon Maylie, Dow Jones Newswires; +44 (20) 7842 9483;
devon.maylie@dowjones.com