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2022-09-22
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Rio Tinto and BHP Billiton asked China to accept the 95% price increase of iron ore

Rio Tinto and BHP Billiton asked China to accept the 95% price increase of iron ore

China Construction machinery information

Guide: Havel amp; Co., Ltd. of the financial times# 8226; Javier Blas, Rebecca amp# 8226; Rebecca bream reports from London. Rio Tinto and BHP Billiton require Chinese steel enterprise customers to accept the largest ever price of iron ore by next Monday at the latest...

Financial Times Javier Blas and Rebecca bream report from London. Rio Tinto and BHP Billiton plastic or electronic equipment are expected to be made of self destruction materials and Billiton (BHP Billiton) asked Chinese steel enterprises to take the arithmetic mean value of 10 samples for testing, and customers should accept the largest ever increase in iron ore prices by next Monday at the latest, otherwise the supply from Australia may be interrupted

traders and industry officials said that the annual iron ore contract price increase required by the two mining companies exceeded the record 71.5% increase in 2005, and they strive to raise the price by%

Rio Tinto and BHP Billiton have warned Chinese customers that some annual contracts will expire on June 30 and they will stop supplying under the old terms. They said they would sell iron ore to the spot market with higher prices

analysts pointed out that most of Rio Tinto's iron ore contracts will expire on June 30, while some of BHP Billiton's contracts will expire in September, so there is more time to negotiate, and Rio Tinto will take the lead in negotiating

Macquarie Bank of Australia said that Rio Tinto strives to make the price increase exceed the market expectation by%. In a report, the bank said: "this position shows that investors must be prepared for the protracted negotiation situation with potentially unpleasant results."

Rio Tinto and BHP Billiton require a higher price increase than vale in Brazil because they are close to China, reducing transportation costs

traders said that the freight cost from Australia to China fell sharply by 37% last week because at least one mining company stopped booking some ships to transport according to the original contract in July. This shows that they intend to deliver to the spot market if the negotiations break down

Morgan Stanley pointed out in a report that the iron ore market is facing an "unprecedented" price situation if we directly measure this signal. "The market is still extremely tight and in serious shortage."

Rio Tinto and BHP Billiton declined to comment

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