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Koyo-- the next multibagger 2014/2015
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Wind22i
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28-Dec-2020 09:32
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China-Australia relations: miner Rio Tinto questioned by China steel association over &lsquo unreasonable&rsquo iron ore prices | South China Morning Post (scmp.com) The price of iron ore recently reached nearly US$160 a tonne &ndash about double the price at the start of the year. Photo: Reuters
With Beijing questioning major miners on their role in record-high prices that are squeezing steel mill margins, Anglo-Australian iron ore miner Rio Tinto says it expanded its iron ore shipments and on-demand sales to meet increased demand for the steelmaking ingredient in China this year. On Tuesday, China Iron & Steel Association (CISA), the domestic steel industry association, held a video conference with Rio, one of China&rsquo s biggest iron ore suppliers, days after an online meeting with rival miner BHP , and said the current ore price was &ldquo unreasonable&rdquo .
That price stood at about US$153 per tonne on Wednesday, after reaching nearly US$160 a tonne last week &ndash about double the price at the start of the year. |
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