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Big iron ore miners may use their pricing power to spark a rally

Singapore

THE world's biggest iron ore miners have accumulated an unprecedented amount of pricing power after boosting market share, according to Morgan Stanley, which said they may now have an incentive to use the new-found clout by curbing supply to spur a rally.

The four largest producers have expanded their combined share of global supply to 75 per cent after they raised low-cost output and smaller rivals quit, the bank said in a report received on Monday. Brazil's Vale SA may slow the ramp-up...

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