BHP Billiton Reconsiders Expansion
IBTimes reported BHP Billiton (NYSE:BHP) is rethinking its position on expansion as the company weighs what to do with $80 billion.
IBTimes reported BHP Billiton (NYSE:BHP) is rethinking its position on expansion as the company weighs what to do with $80 billion.
Reuters reported a slowing Chinese economy clouding the demand outlook in the world's top consumer and halting producers' buying interest for iron ore.
Bloomberg reported China will include Vale (SAO:VALE5), Rio Tinto (NYSE:RIO,ASX:RIO) and BHP Billiton (NYSE:BHP,TSX:BHP,ASX:BHP) on its new spot iron ore trading platform.
Australia is the second largest producer of iron ore, and with increasing iron demand, its market is poised to remain stable.
Reuters reported BHP Billiton (NYSE:BHP) predicted record iron ore production this year after quarterly output jumped by a fifth.
Mineweb reported China launched a new physical iron ore trading platformwill help strengthen its pricing power and wrest control from global ore suppliers.
Platts reported BHP Billiton (NYSE:BHP) has offered Chinese steelmakers an iron ore lump premium of $0.11-0.13/dry metic ton for the first quarter.
The price of iron ore has made a 26 percent gain over since hitting a low in late October. However many are cautious that the gains will be short lived because of the soft demand for steel.
International Business Times reported BHP Billiton (NYSE:BHP) has stepped on the gas for the realisation its expansion projects in Western Australia.
Reuters reported China Steel (TPE:2002) plans to ask miners BHP Billiton (NYSE:BHP) and Rio Tinto (NYSE:RIO) to delay iron ore.
Get our independent commentary on iron trends and companies delivered to your inbox.