It will be interesting to see what the Dalian does overnight now that this has been confirmed.
Federal investigators will be on the scene. Given it was an extremely serious incident where thankfully nobody hit hurt and it wasn’t the first such incident involving BHP, I’d imagine it would be some time before clearance is given for operations to resume.
They ship about 3m tonnes every 4 days on average so any prolonged closure will have a material impact on the iron ore price.
A nice gap up tomorrow would give me a bit of extra coin for The Cup!
Iron ore price, page-8476
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