BHP Billiton Committed To Sell Iron Ore Using Spot Prices
February 22nd, 2010 | File Under : Companies - Iron Ore - Mineral Exploration
Analysis released by BHP Billiton said that the increase in iron ore spot prices due to increased iron ore demand from steel industry in China. Iron ore prices are in a strong rebound conditions. BHP Billiton to see the changes China’s steel production levels could control the price of iron ore in the spot market. Resurrection of the spot price of iron ore has been started in early 2009, which crept up the spot price above a benchmark price of iron ore, spot prices of iron ore continues to improve until the end of 2009. Therefore, BHP Billiton is committed to sell iron ore in accordance with the spot price
BHP Billiton Chief Executive Marius Kloppers “said the company remains committed to selling ore at spot prices. Over the years we have been saying this market should be changed and will change. Even in the depths of the financial crisis last year when the spot price falls below the standard we are willing to sell the product on the spot market. ”
Iron ore prices produced in Australia is the spot price was heading for $ US130 per tones ($ 148), approximately 100 percent above the benchmark.
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