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The gorillas in iron ore - BHP, RIO, and VALE - are in talks to join China's 1st physical...

The gorillas in iron ore - BHP, RIO, and VALE - are in talks to join China's 1st physical trading platform for the mineral, another in a series of major changes for the industry. For 20 years, the price of ore rarely varied from the $10-14/ton range, but things changed in 2004 when the big 3 jacked the price, which rose as high as $180 last year (currently $140).
Comments (2)
  • Colin Lea
    , contributor
    Comments (579) | Send Message
     
    You can access my latest long term outlook for BHP here:

     

    http://seekingalpha.co...
    29 Feb 2012, 03:45 PM Reply Like
  • rubberoptions
    , contributor
    Comments (400) | Send Message
     
    China has always encouraged physical trading of commodities that it imports.. This is more an exchange traded OTC market; where buyers & sellers need to put up margin (aka performance deposit); which is refunded upon physical delivery or in the event when buyer defaults).. This is different from Singapore Mercantile Exchange's playbook; which is just interested in creating a futures market
    1 Mar 2012, 11:58 AM Reply Like
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