Iron Ore Rebounds From 20-Month Low as BHP Warns of Port Strike
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Iron ore rose from a 20-month low as BHP Billiton Ltd. warned that a possible port strike would affect mining operations.
Ore with 62 percent content delivered to the Chinese port of Tianjin advanced 1 percent to $98.50 a dry ton today, data compiled by The Steel Index Ltd. showed. Prices yesterday fell to the lowest since September 2012. Mining operations may start winding down after two days of strike action because stocks at Port Hedland are reasonably high, BHP’s iron ore president Jimmy Wilson told reporters in Perth today.