I don't see that other producers should be under any obligation to increase output to make up for any shortfall caused by this terrible event. Why would Rio, BHP and FMG produce an additional say 10 to 30 million tons to cover any worldwide shortage in supply? Sure they would make money on that additional output but it would only depress the price received on the other 600 million or so tons they produce. And probably quite substantially so. Those countries with oil are not shy about regulating supply to boost their margins. Could be completely out of line but that is what I think and how I would react if I was pulling the levers. I would invent a line that professed "value over volume" and stick to it. Oh somebody already has done that have they. We will see.
I don't see that other producers should be under any obligation...
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