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BHP bought 100K metric tons of iron ore on the spot market in a rare move traders see as a...

  • Thursday, January 17, 2:33 PM ET
    BHP bought 100K metric tons of iron ore on the spot market in a rare move traders see as a strategy by producers themselves to stem a decline in prices as Chinese demand wanes. The cargo is not for immediate delivery, adding weight to the argument that BHP wants to support prices, traders say, though some participants believe BHP’s move may be due to supply issues.
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This news story has 2 comments:

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    what ever happened to supply and demand, this should be a violation of international law. China will not forget...
    17 Jan, 07:48 PM Reply Like
  •  
    Well maybe BHP will benefit incrementally, from such a move. They have a transport advantage over the Brazil (Vale) but they have a higher labor cost issues.See the labor cost budget over runs that CVX is experiencing.
    18 Jan, 11:27 AM Reply Like
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