The output cuts underscore the industry’s struggle with a shortage of feedstocks caused by recent mine production setbacks.
Iron ore is one of the year’s worst performing major commodities, slumping by almost a quarter as China’s property crisis drags on.
The metal headed for a third daily decline, with copper miners also under pressure as a risk-off mood took hold in broader equity markets.
The trip comes after Niger’s military government withdrew mining rights from Canadian and French companies to develop uranium deposits.
