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BUZZ-Australia's iron-ore miners down as market expects supply to exceed demand

Reuters - UK Focus

** Large-cap iron ore companies such as Fortescue Metals Group Ltd, BHP Billiton Ltd and Rio Tinto Ltd fall between 2.4 pct and 5.7 pct

** Morningstar (NasdaqGS: MORN - news) expects production of seaborne iron ore to be around 350 mln tonnes by 2018, and iron-ore demand growth of less than 100 mln tonnes by 2018

** Morningstar says China's steel demand has peaked, and steel production will decline 10 pct by 2020

** Research firm adds that low-cost expansions by the miners will add supply to an already bloated market

** S&P/ASX 200 Materials (GIC) down 2.6 pct with two of the three major companies as top-percentage losers (Reuters Messaging: aparajita.saxena.thomsonreuters.com@reuters.net)