I reckon this is BS.
You would expect BHP / RIO to have sold the cargoes to China with a Letter of Credit.
This being the case, the shipper, BHP / RIO have already been paid upon the vessel departing the load port, so the loser here is the buyer who has forked out the $$$$. Standard pracice in int't biz.
Reporters full of sheet...
china to stop ships oz iron ore/ prices, page-3
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Last
$40.67 |
Change
-0.270(0.66%) |
Mkt cap ! $206.2B | |||
| Open | High | Low | Value | Volume |
| $40.68 | $40.79 | $40.53 | $235.7M | 5.786M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 250 | $40.65 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $40.68 | 8347 | 2 |
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| Last trade - 16.10pm 23/08/2024 (20 minute delay) ? |
| BHP (ASX) Chart |