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25th May 2012
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Iron-ore market moving away from benchmark-pricing system
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Address to refer:
http://www.miningweekly.com/article/ironore-market-moving-away-from-benchmarkpricing-system-2008-08-18
Article Headline:
Iron-ore market moving away from benchmark-pricing system
Abstract:
Not only was the iron-ore benchmark pricing system coming apart at the seams, but it has “lost a pants leg”, as the market moved towards more transparent prices, BHP Billiton CEO Marius Kloppers said on Monday. Further, he said that the movement towards the steelmaking ingredient becoming a traded product was now irreversible. Kloppers reiterated that BHP Billtion regarded itself as a volume supplier and a price taker, which aimed to “get today’s price today”, and if today’s price was unknown “please try and create something that shows what today’s price is”.
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