CCTV9英语新闻：Global iron ore output surges amid slowdown in China

（单词翻译:单击）

China's iron ore manufacturers say they're struggling to keep their businesses afloat because of high costs and taxes while production is on the rise for the sector's global giants.  

Brazil's Vale SA is the world's largest iron ore producer and it says it will increase output from 306 million tons to 450 million tons this year. That comes as Australia's top iron ore producer -- BHP Billiton -- plans to expand its output 31 percent in 2015. The leading global producers enjoy lower production costs than in China and aim to use that advantage to improve their market shares. Chinese industry analysts¹ say the expanded production will give the major global exporters a monopoly while crippling China's steel industry.