Characteristics of monopoly market. From the supply side, the output of the four major mines in the global iron ore market accounts for more than 60% of the global imports. The market characteristics of oligopoly make it easy for them to influence prices by controlling output.
Yes; From the demand side, China, Japan, South Korea, Europe and other countries are the main countries with large iron ore demand, among which China has the largest iron ore import, and China's demand usually has an important impact on the international iron ore price.
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