From the AP: China’s steel mills have agreed to a 19 percent price increase for iron ore following extended negotiations with the world’s three biggest mining companies, the government said Wednesday. China’s biggest steelmaker, Baosteel Group , agreed Tuesday with Australia’s BHP Billiton Ltd., the official Xinhua News Agency reported, citing an unnamed source at […]
From ABC News (link): Investors in BHP Billiton Ltd. have a glitter in their eye when they look upon China, the superhot market that’s making the world’s largest diversified resources company ever richer. From iron ore to copper to oil, the global boom in commodities prices has thundered along at a historic pace in recent […]
From the Australian: BHP Billiton, the world’s biggest mining company, was forced into a humiliating backdown yesterday, dropping its demands for a higher iron ore price in the face of an unprecedented campaign by Chinese steel mills and bureaucrats… But the new price marks a significant disappointment for BHP, which hoped to use soaring demand […]
From the IHT: China is applying diplomatic pressure on Australia to keep the Melbourne-based BHP Billiton from doubling what Chinese steel makers pay for the company’s ore shipments… BHP is asking Chinese steel makers to pay almost 20 percent more for its iron ore than they agreed to pay its main competitors, Rio Tinto and […]
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