"..Iron ore entered a bull market on Friday, rising more than 20 percent from its closing low, after BHP Billiton said it will slow the pace of expansion in Australia and some smaller suppliers shuttered mines. A floor in prices may now be forming, according to Pacific Investment Management Co. A fourth day of gains for benchmark prices on Monday would be the longest run this year as futures in China signaled further gains.
The ?market is mainly in the hands of the Big Four: if just one takes a little action, it has a big influence,? said Zhu, referring to Vale, BHP, Rio Tinto Group and Fortescue Metals Group Ltd. ?If I were the miners, I?d say our responsibility is to satisfy the demand of the steel industry. I don?t need to produce more, I don?t want to produce less.?.."
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