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Disaster-Hit Iron Market Seeks More Tons as Cos. Unable to Ramp Up Output

Feb.21 -- Iron ore has spiked after Vale suffered from a dam burst in January and announced cuts of up to 70 million tons. The jolt to the market has prompted speculation that there could be a shortfall this year even as the higher prices induce others to step in. Still this week, both BHP Group and Fortescue Metals Group Ltd. -- which along with Rio Tinto and Vale dominate the trade -- said they can’t ramp up. Bloomberg's Danielle Bochove and Alix Steel talk about the iron-ore market.

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