The global iron-ore market is likely to have a shortfall following the dam spill and mine curtailments at top supplier Vale, according to Fortescue Metals Group founder Andrew Forrest, who cautioned that other producers face constraints in boosting output.
“We do have to face the reality of a potential deficit,” Forrest said in a Bloomberg Television interview at the Boao Forum in Hainan province. While the Australian miner is “looking very hard” at how it can help customers, it can’t guarantee it’ll be able to help fill the deficit, according to Forrest.