Quartz's Gwynn Guilford reports that China's year-on-year imports surged to 10.9% in July at $168 billion and all because of iron ore imports, speculated to serve as collateral for bank loans: But wait—what exactly was...
A concise summing up of the recent increase in iron prices and the growth of ore sales by BHP Billiton and Rio Tinto to China can be found in tomorrow’s Sydney Morning Herald: But when it comes to relations with customers...
From The Guardian: CVRD, the Brazilian mining group, is having the world’s largest ore carriers built to export iron ore to China as the latter’s insatiable demand for the raw materials to produce steel has pushed freight rates through the roof. The company, which last summer won the battle for Canada’s Inco with a bid […]
In Bhopal, India’s Central Chronicle, Indian environmentalist Sunita Narain writes an op-ed about the impact that China’s demand for iron ore is having on the economy, environment and people of the state of Goa: I wrote last fortnight about how mining in Goa for iron ore was ripping its forests and devastating its people. I […]
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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