Australia’s Atlas Suspends Output on Iron Ore Price Collapse
This article is for subscribers only.
Atlas Iron Ltd., Australia’s fourth-largest iron ore supplier, will suspend all operations this month in response to a slump in prices to their lowest in a decade.
The company is the biggest casualty in Australia of a collapse in the price of the steelmaking material, caused by a glut in supply and cooling demand in China, its largest consumer. Australia, led by Rio Tinto Group and BHP Billiton Ltd., is the world’s top exporter of iron ore.