China considering boycott of iron ore imports from BHP
HONG KONG (MarketWatch) -- Chinese government and steel industry officials are considering a boycott of iron ore imports from BHP Billiton to apply pressure on the Anglo-Australian miner not to raise prices too much, according to a newspaper report Thursday. BHP is seeking more for its iron ore than the nearly 100% increase mainland steelmakers agreed to pay its rival Rio Tinto , the South China Morning Post reported. It cited an unnamed China official as saying an agreement with BHP may be reached next week, but any move by the miner to link long-term contract prices of iron ore to higher spot prices would be rejected.
Separately, Marcus Randolph, chief executive for ferrous and coal at BHP, said the company wasn't being paid "the same price as somebody else is for their similar product delivered to China," the report added. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news..
Thu Jun 2008 12:06 (6 months, 2 weeks ago)
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Separately, Marcus Randolph, chief executive for ferrous and coal at BHP, said the company wasn't being paid "the same price as somebody else is for their similar product delivered to China," the report added. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news..
Thu Jun 2008 12:06 (6 months, 2 weeks ago)
Market Watch Market Pulse
371 articles in collection
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