Changing dynamics in the iron ore market will ensure Fortescue Metals becomes "the next Atlas" according to the outspoken boss of US miner Cliffs, putting him at odds with analysts who believe Fortescue will report earnings in excess of $US1 billion for years to come.

The extraordinary implication that Fortescue would follow Atlas Iron into financial distress was levelled by Cliffs managing director Lourenco Goncalves during a discussion about price discounts applied to lower-grade iron ore.