No need for “fire sale”. Major producers can’t run at a loss as well as the mills. So a bottom has to be reached and work from there.
“The world's biggest iron ore miners have accumulated an unprecedented amount of pricing power after boosting market share, according to Morgan Stanley, which said they may now have an incentive to use the new-found clout by curbing supply to spur a rally.”
Read more: http://www.smh.com.au/business/markets/need2know-asx-to-drop-20151214-glnhiw.html#ixzz3uKj9K6r1
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No need for “fire sale”. Major producers can’t run at a loss as...
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