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Iron giants to add 200 million tons of supplies through 2020

Australia and Brazil, the world's two top iron-ore exporters, will add close to 100 million tons to their supply over the next ten years in a development that looks set to put pressure on the prices, and thus smaller miners, notes Citigroup Inc.

Photo: Vale

The world's two largest iron-ore exporters Australia and Brazil will each add about 100 million metric tons of supply through the end of the decade, boosting a global glut and hurting prices in a slump that will then force marginal miners to cut output, according to Citigroup Inc.

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