BHP Billiton sells 3 iron ore fines cargoes on GlobalORE trading platform launch
Thursday, 31 May 2012 | 00:00
Australian miner BHP Billiton sold three iron ore fines cargoes on Singapore-based spot iron ore trading platform GlobalORE, which officially launched Wednesday at 3 pm Singapore time (0700 GMT), according to a source close to the matter.
Traders said the first shipment traded was a 90,000 mt 60.5%-Fe fines cargo, which the miner sold for $134.50/dmt CFR Qingdao, China, under the platform's Qingdao 62 bracket.
This shipment will load over June 6-15 from Australia's Port Hedland, and contain a maximum 2.6% alumina, 5.5% silica, 0.1% phosphorus, 0.05% sulfur, and 10% moisture, according to the source.
Traders with access to the platform said this was likely to have been a Mining Area C fines cargo, but this could not be confirmed by the miner. GlobalORE could not be reached for comment on the matter.
BHP Billiton also sold a second 56.5%-Fe fines cargo for $124/dmt CFR Qingdao, China, on the GlobalORE platform under its Qingdao 58 LAPS bracket, trade sources said.
This shipment was a 110,000 mt cargo which will also load over June 6-15 from Port Hedland. This cargo will contain 1.8% alumina, 6% silica, 0.06% phosphorus, 0.05% sulfur and 10.5% moisture.
A third shipment of more than 45,000 mt of 56.5%-Fe fines was also sold at $126/dmt CFR Qingdao by the miner on GlobalORE. This cargo is to load over July 1-10 from Port Hedland, and will contain 1.8% alumina, 6% silica, 0.06% phosphorus, 0.05% sulfur and 10.5% moisture.
No other trades were heard done by the close of GlobalORE's trading session at 0800 GMT.
The seven shareholders of GlobalORE are miners Vale, Rio Tinto and BHP Billiton, Chinese state-owned steelmakers Baosteel and Hunan Valin Iron & Steel, and trading companies Minmetals and Glencore.