Iron ore cost cuts in Australia and China, but will it last?
Iron ore producers in Australia and China have been forced to reduce costs in view of low commodity prices. Companies have undertaken various means to cut costs under difficult market conditions. The Average Australian FOB cost has dropped from US$29.3/tonne in 2014 to US$21.8/tonne in 2015. Savings have been realised in the areas of low diesel prices, labour, operations and government support.