Chinese steelmakers inflict more pain on small miners
They are demanding to pay for shipments of the raw material based closely on depressed spot prices
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
Singapore
CHINESE steelmakers are unwittingly helping the world's biggest iron ore miners tighten their grip on global production by demanding to pay for shipments of the raw material based closely on depressed spot prices.
The three largest and most profitable iron ore producers - Australia's Rio Tinto and BHP Billiton, along with Brazil's Vale - have been happy to sell at or near spot despite plunging iron ore prices, while their smaller rivals struggle to make money.
Share with us your feedback on BT's products and services
TRENDING NOW
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
OCBC is said to emerge as lead bidder for HSBC Indonesia assets
Middle East-linked energy supply shocks put Asean Power Grid back in focus
Eurokars Group introduces rental car franchises Enterprise Rent-A-Car, National Car Rental, and Alamo to Singapore
