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Iron ore prices for December 11, 2020:
Spot up again. Paper as well. Steel has not updated. Records are tumbling. As iron ore roars higher:
It is only $7 below its all-time AUD high:
As Dalain futures hit their all-time high:
China is not happy, whinging like a stuck pig:
China’s steel industry body has demanded an explanation from Anglo-Australian miner BHP about the surging cost of iron ore, in a fresh sign of Beijing’s growing frustration about runaway prices for the steelmaking ingredient.
The China Iron & Steel Association (CISA) held a video conference on Thursday with BHP executives in which there was a “candid exchange of views” on the miner’s production, sales and pricing, according to a statement from the industry group.
BHP to maintain stable iron ore supply despite cyclone – China steel body
Miner BHP BHP.AX on Thursday assured the China Iron & Steel Association that adverse weather conditions in Australia that helped propel iron ore prices to record highs would not impact its monthly shipment volumes, the Chinese steel body said.
Pilbara Ports Authority in Western Australia earlier on Thursday said it had started to clear large vessels out of Port Hedland, the world’s biggest iron ore export hub, which is used by BHP, and issued a cyclone warning.
BHP, however, said the weather would have “no impact on the monthly shipment volume and (it) will maintain the original planned level,” according to a CISA statement after a video call between its vice chairman, Luo Tiejun, and BHP representatives including Rod Dukino, vice president for marketing and sales.
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