BHP 1.48% $34.64 bhp group limited

to sell iron ore on spot markets

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    The shortfall in sales of IO will be put onto the spot market. Although the prices are lower, it may be a move by BHP to develop this market along the lines of the oil market. The large IO producers are few as are oil, so it is not impossible for an OPEC situation to develop especially if the RIO takeover succeeds. By reducing production, the price can be kept high enough to give good returns.
 
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