Mainly due to the oversupply of world iron ore, production of Australian mining giant Rio Tinto Group fell steeply in the first quarter this year. World Steel Association anticipates that global demand of iron and steel will be the same. Growth rate of demand will slightly increase to 1.4% next year. In this context, ANBOUND think tank scholars believe that the demand of upstream raw iron ore will also be influenced. However, giants including Rio Tinto Group don't plan to reduce production according to sales. Thus, the competition of market share in iron ore industry keeps intensifying.