ROSY FUTURE FOR IRON ORE PRODUCERS

Iron production is expected to rise from 934million tons last year to 1224million tons in 2011, an increase of 31percent, an independent steel industry analyst, MEPS, said yesterday.

Iron production is expected to rise from 934million tons last year to 1224million tons in 2011, an increase of 31percent, an independent steel industry analyst, MEPS, said yesterday.

"Demand for iron ore is forecast to increase at a faster rate than that of steel," MEPS reported. Scrap availability is likely to remain tight in the future, the report added.

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