China's iron ore surplus disappears, prices up-BHP
Wed Feb 4, 2009 3:06am GMT
SYDNEY, Feb 4 (Reuters) - A massive stockpile of iron ore in China that caused suppliers to defer millions of tonnes in shipments last year had all but disappeared, pushing spot market prices higher, BHP Billiton Ltd/Plc (BHP.AX)(BLT.L) said on Wednesday.
Iron ore mining generated more revenue and income than any other division for the world's biggest diversified mining house in the first half and, barring a second collapse in demand, it hopes to maintain production levels in the second half, Chief Executive Marius Kloppers said in a media briefing. (Reporting by James Regan)
interesting article iron ore china stockpile
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