Business
Market may be underestimating iron ore boom – The Australian Financial Review
Analyst models expect the sky-high iron ore price to plunge 30 per cent in the next 10 weeks. But our mining giants have a different view of Chinese demand.
A decade ago, Australian mining was still rushing to ramp up to meet surging demand from China BHP shipped just 134 million tonnes of ore in 2011, the year iron ore prices hit $US190 a tonne and its unit costs per tonne were hovering around $US40 a tonne.
Prices are good, margins are better
On Wednesday, with its huge iron ore machine now fully built out and running close to top speed, BHP reaffirmed cost guidance for between $US13 a tonne and $US14 a tonne.
Prices are great, but its the margins…
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