Original article by Sarah-Jane Tasker, Matt Chambers
The Australian – Page: 20 : 5-Feb-15

The iron ore price may fall to below $US60 ($A77) a tonne, having dropped 50% between September 2013 and early February 2015. The commodity is now trading at $US63, but China Iron & Steel Association executive vice secretary-general Li Xinchuang forecasts a further weakening in demand. In response, dominant Australian producers Rio Tinto and BHP Billiton have ramped up their output while also cutting their cash costs by nearly half. Lourenco Goncalves, CEO of US-based rival Cliffs Natural Resources, has criticised the strategy

CORPORATES
CHINA IRON AND STEEL INDUSTRY ASSOCIATION, RIO TINTO LIMITED – ASX RIO, BHP BILLITON LIMITED – ASX BHP, CLIFFS NATURAL RESOURCES INCORPORATED, WHITEHAVEN COAL LIMITED – ASX WHC, ILUKA RESOURCES LIMITED – ASX ILU, SOUTH32 LIMITED, STANDARD AND POOR’S (AUSTRALIA) PTY LTD, NIKKO ASSET MANAGEMENT GROUP