Dec 09, 2011 03:21 PM

China Gives Cold Shoulder to BHP Ore Trading Platform

By staff reporter Yu Zhixiang

(Beijing) -- Chinese steel companies are taking an leery approach in evaluating the global ore trading system promoted by mining giant BHP Billiton, over fears of being exploited by international financial speculators, according to a report by Economic Information Daily on December 7.

BHP is now canvassing around China for Chinese steel plants to join an iron ore spot trading platform, the newspaper said, citing a source from a steel firm.

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