Business
BHP hits half-year iron ore record as China demand runs hot – Sydney Morning Herald
Australia’s largest miner, BHP, has a shipped record volume of iron ore in the past six months amid surging Chinese demand for the steel-making raw material.
It comes as the price of iron ore, Australia’s biggest export, has surged in recent months on the back of record-breaking steel output in China, where massive post-COVID stimulus programs are boosting demand, while disruptions are affecting rival suppliers in Brazil. The rally has sent the shares of Australia’s big iron ore producers BHP, Rio Tinto and Fortescue to all-time highs.
Iron ore cargoes on Tuesday were trading around $US170 per tonne.
BHP on Wednesday retained its 2021 financial year…
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