Australia, Brazil Seen Taking 90% of Worldwide Iron Ore Trade
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Australia and Brazil, the largest iron ore producers, will raise their combined share of global seaborne supply to 90 percent as they boost output and spur the closure of higher-cost mines, according to Macquarie Group Ltd.
The two countries are forecast to increase their joint share to 79 percent in 2015 from 73 percent last year, Macquarie said in a commodities report received today. The combined 90 percent share may be reached by 2020, the bank forecast.