CISA questions BHP on soaring trend of iron ore prices  

Monday, 14 December 2020 18:08:46 (GMT+3)   |   Istanbul

Luo Tiejun, vice president of the China Iron and Steel Association (CISA), has discussed iron ore production, sales and pricing during a video conference with executives from Australia-based miner BHP Billiton. In particular, Mr. Luo questioned the BHP executives about the soaring prices of iron ore. Chinese steel plants are set to achieve record crude steel production for the current year, but have concerns that the increasing costs will impact their profitability, as SteelOrbis understands.

The CISA said that BHP Billiton indicated that it expects its iron ore production for the financial year starting in July to remain strong and reach 276-286 million mt as planned. The company added that weather conditions have not impacted its shipping plans. 

Regarding the price increase of $7.5/mt of iron ore recorded in a single day recently, BHP Billiton expressed its willingness to strengthen communication with the CISA to ensure an open and transparent iron ore market.

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