Thomson Reuters






April 29 (Reuters) - Cliffs Natural Resources Inc,
which is struggling to cope with an over-supplied iron ore
market, blamed industry leaders BHP Billiton Ltd, Rio
Tinto PLC and Vale SA for weak prices for the
commodity.


The prices are depressed "not by the fact that these guys
produce a lot of iron ore, but by the fact that they are saying
that they will produce a lot more," Cliffs Chief Executive
Lourenco Goncalves said on a call with analysts on Wednesday.


Cliffs reported a surprise profit after the close of market
on Tuesday. The shares rose as much as 5.3 percent in early
trading on Wednesday, before reversing course to trade down 3.9
percent at $5.64 by midday.

(Reporting by Kanika Sikka and Anannya Pramanick in Bengaluru;
Editing by Savio D'Souza)