Australian miners throw down the gauntlet on ore prices

摘要

Australian iron ore miners are set for another clash with their Chinese, Japanese and other Asian customers over who should pocket the billions of dollars in transport savings that stem from their close proximity to the region. Australian ore lands at Chinese and Japanese ports about 40% cheaper than ore from Brazil due to much lower shipping costs. But BHP Billiton and Rio Tinto have never managed to convince the Asian steel mills that the savings should flow to them. Instead, iron ore wholesalers and Asian mills have reaped the vast extra profits.