Because their expansions are still highly profitable, and they are much better off being the ones bringing these tonnes to market rather than having their competitors eventually do so.
as I wrote elsewhere, the ultimate extension of the withhold capacity argument (also anti-competitive) is to leave all iron ore in the ground to really help prices.
in the end, high chat producers will always be in trouble when demand is lower than available supply, the likes of AGO and MGX both born at much lower prices than those today, should have done much better.
GBG Price at posting:
2.3¢ Sentiment: Sell Disclosure: Not Held
RIO Price at posting:
$59.10 Sentiment: Buy Disclosure: Not Held
AGO Price at posting:
18.0¢ Sentiment: Hold Disclosure: Held
MGX Price at posting:
41.0¢ Sentiment: Hold Disclosure: Held
BHP Price at posting:
$30.92 Sentiment: Buy Disclosure: Held
