Rio Tinto Staff Trial Beginning

[Stepbrow]

You know, the irony of this whole affair is that China is now paying about three times as much per ton of iron ore as before. When the B) hit the fan China was able to negotiate long term contracts for the iron ore, but now the big three iron or producers got together and made all of the buyers pay the spot prices for ore purchases.

[amberjack1234]

You know, the irony of this whole affair is that China is now paying about three times as much per ton of iron ore as before. When the hit the fan China was able to negotiate long term contracts for the iron ore, but now the big three iron or producers got together and made all of the buyers pay the spot prices for ore purchases.

So China, crying like they do about these situations when they have to compete, cried foul by charging these guys as spy's or something in retaliation. That is just wonderful.

 

Larry

Edited April 18, 2010 by amberjack1234 (see edit history)

[Stepbrow]

You know, the irony of this whole affair is that China is now paying about three times as much per ton of iron ore as before. When the hit the fan China was able to negotiate long term contracts for the iron ore, but now the big three iron or producers got together and made all of the buyers pay the spot prices for ore purchases.

So China, crying like they do about these situations when they have to compete, cried foul by charging these guys as spy's or something in retaliation. That is just wonderful.

 

Larry

 

 

Actually Larry, Rio Tinto raised the prices after China put on the big show trial.

[amberjack1234]

You know, the irony of this whole affair is that China is now paying about three times as much per ton of iron ore as before. When the hit the fan China was able to negotiate long term contracts for the iron ore, but now the big three iron or producers got together and made all of the buyers pay the spot prices for ore purchases.

So China, crying like they do about these situations when they have to compete, cried foul by charging these guys as spy's or something in retaliation. That is just wonderful.

 

Larry

 

 

Actually Larry, Rio Tinto raised the prices after China put on the big show trial.

I understand now thank you. I am glad that somebody was paying attention.

 

Larry

[Kwyjibo]

The China Iron and Steel Association is asking Chinese steel companies and traders to stop buying iron ore for two months from Rio Tinto, BHP Billiton and Vale.