Refer to the input text as context and select the correct relationship between 'S11D' and 'iron ore' from the available options.
Options: owned by, operator, stock exchange, product/material produced

Fortescue could be marginal producer ﻿ UBS analyst Glyn Lawcock told the Financial Review that Fortescue could become the marginal producer of the large iron ore players when S11D starts production.
product/material produced