Kloppers does not want the present price-setting system to continue.... He wants iron ore bought and sold as an OTC--over the counter traded security.... a bit like crude oil.
The Chinese may have the bargaining position now as we speak, but we are talking about iron ore for consumption during 2009....
There are trillions of dollars of stimulus packages unleashed throughout the world....
They need some time to bite, not overnight as in next week or next January.
Chinese demand will pick up----assuming it hasn't been deliberately engineered to slow in the first place.
Notice how Chinese are going around sniffing out acquisitions with marked down price tags?
opening price?, page-23
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Last
$43.80 |
Change
0.370(0.85%) |
Mkt cap ! $222.2B | |||
| Open | High | Low | Value | Volume |
| $43.46 | $44.42 | $43.33 | $264.8M | 6.047M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 12 | $43.79 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $43.80 | 13551 | 1 |
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| BHP (ASX) Chart |