BHP(BHP)

Search documents
拒用人民币结算?必和必拓铁矿石遭拒收,美元吸引力不再?
Sou Hu Cai Jing· 2025-10-03 22:27
Core Viewpoint - The Chinese government has escalated its actions against BHP by requesting domestic steel mills to halt any new contracts for iron ore priced in US dollars, indicating a shift towards local currency transactions and a broader strategy to reduce reliance on the US dollar in commodity trade [1][3]. Group 1: Trade Dynamics - The ban on new dollar-denominated contracts follows China's earlier suspension of purchases of BHP's iron ore, marking a significant escalation in trade tensions between China and Australia [1][3]. - Australia’s Prime Minister Albanese expressed disappointment over China's decision, emphasizing the importance of iron ore trade for both economies and acknowledging the frequent price negotiation disputes [3][15]. Group 2: Historical Context - China's involvement in international iron ore negotiations began in 2004, but it has historically been in a position of accepting rules set by international miners [3][5]. - The price of iron ore saw significant increases from 2005 to 2008, with a cumulative rise of 165% over four years, highlighting the challenges faced by Chinese steel companies in negotiating prices [5]. Group 3: Shift to Local Currency - The establishment of China Mineral Resources Group in 2022 aimed to consolidate purchasing power among domestic steel mills to challenge the pricing dominance of international miners [6]. - BHP's acceptance of RMB for iron ore transactions in 2022 marked a pivotal moment in the shift towards local currency settlements, with previous attempts to use RMB dating back to 2019 [6][11]. Group 4: Global De-dollarization Trends - The global trend of de-dollarization has gained momentum, with countries like Brazil and Argentina moving towards local currency trade agreements with China [8]. - The share of the US dollar in global foreign exchange reserves has decreased to 58.4%, the lowest since 1995, reflecting a growing distrust in the dollar [8][13]. Group 5: Supply Chain Diversification - China's strategy to diversify iron ore supply includes the development of the Ximangdu iron ore project, expected to add 120 million tons of annual supply capacity [10]. - The domestic recycling of scrap steel is being accelerated, with each ton of scrap steel replacing 1.6 tons of iron ore, contributing to reduced carbon emissions [10]. Group 6: Market Implications - In 2023, China's iron ore imports are projected to reach 370 million tons, accounting for over 75% of global seaborne trade, making China a critical market for Australian iron ore exports [11]. - If China were to cease orders from BHP, the company could face a significant revenue shortfall, given that 80% of its iron ore exports are directed to China [11][15]. Group 7: Financial Market Reactions - The rising costs of domestic iron ore procurement for large steel enterprises have increased by 64% year-on-year, indicating the direct impact of international price fluctuations on the domestic industry [17]. - The shift in procurement strategies aims to leverage economies of scale to mitigate price volatility in the iron ore market [17].
Capesize shipping rates sink with China’s ban on BHP iron ore cargoes (BHP:NYSE)
Seeking Alpha· 2025-10-03 15:09
Dry bulk shipping rates have plunged ~25% this week due to a dispute over BHP's (NYSE:BHP) iron ore shipments to China and a seasonal lull in demand, Bloomberg reported Friday. Spot rates for Capesize bulk carriers fell 6% on Thursday to the ...
澳大利亚对中国稀土开首枪,中方叫停交易,订单清零,澳总理急了
Sou Hu Cai Jing· 2025-10-03 09:59
«——【·前言·】——» 中澳贸易再起波澜,这回发生了什么事?难道澳大利亚又对中国开枪了? «——【·一场突如其来的贸易震荡·】——» 9月的最后一天,全球矿业市场被一则重磅消息掀起惊涛骇浪。中国矿产资源集团突然宣布,暂停采购 必和必拓所有以美元计价的海运铁矿石。 这一决定如同多米诺骨牌,瞬间引发连锁反应:新加坡铁矿石期货价格应声上涨1.8%,澳大利亚股市 开盘后必和必拓股价暴跌6%,市值蒸发超百亿美元。 更令澳大利亚焦虑的是,该国85%的铁矿石出口依赖中国市场,此次订单清零直接影响其GDP的1.2个 百分点,国库部已将2025-2026财年经济增长预期下调至2.1%。 消息传出后,澳大利亚总理阿尔巴尼斯坐不住了。他在第一时间公开表态,称中方的决定"令人失望", 并急切呼吁"澳大利亚铁矿石应畅通无阻地出口到中国"。 然而,这位总理或许没有意识到,这场看似突然的贸易摩擦,实则是中澳稀土博弈长期积累的必然结 果。 此次中方叫停交易,表面上看是政治博弈,实则是一场精心策划的商业行为。其中,市场因素起到了关 键作用。近年来,全球铁矿石市场供需格局发生了重大变化。 随着中国钢铁行业的转型升级,对铁矿石的需求增速放缓。与 ...
铁矿石战争升级!中国停购部分澳大利亚铁矿石!澳总理急了?
Sou Hu Cai Jing· 2025-10-03 06:40
中国与澳大利亚铁矿石争端:中澳博弈再度升级 近期,关于中澳铁矿石贸易的争论再次引起关注。据观察者网援引彭博社报道,中国矿产资源集团已要求国内钢铁厂暂停购买澳大利亚矿业巨头必和必拓 (BHP)公司的铁矿石,这一举动引发了广泛关注。那么,为什么中国要暂停购买澳大利亚的铁矿石?这背后究竟隐藏着怎样的价格纠葛?这场博弈是否会 影响中澳之间的经济合作? 中澳铁矿石贸易:从合作到冲突 近年来,中澳两国在铁矿石领域的合作一直非常紧密。澳大利亚拥有高质量的铁矿石资源,且价格相对低廉,中国是全球最大的铁矿石进口国,两国在铁矿 石贸易上形成了长期的互惠互利关系。然而,随着国际经济形势的变化,尤其是铁矿石价格的波动,这种关系也开始面临新的挑战。 根据公开数据,2025财年,必和必拓的铁矿石平均售价下跌了19%,导致其利润减少了24%。铁矿石价格下跌在市场上是普遍现象,但中国与澳大利亚之间 关于价格调整的谈判却未能达成一致。因此,中国方面决定采取行动,通过暂停购买必和必拓的铁矿石,来表达不满。 中方为何暂停采购必和必拓铁矿石? 此次中国暂停购买必和必拓的铁矿石,背后的核心原因还是价格问题。中国政府明确要求,必须通过人民币结算,而非美 ...
London loses grip on mining as memories of empire fade
Yahoo Finance· 2025-10-03 05:00
mining For centuries, the world’s fortune-hunting geologists or mining engineers would strike upon a potentially lucrative place to dig a hole, then come to London to find the finance. The capital of the British empire teemed with financiers ready to roll the dice on often speculative, far-flung mining prospects. Its status survived the imperial twilight: even a decade ago, miners were still routinely roadshowing their wares to the City. But the sun now seems to be setting on London’s role at the cent ...
中国停购澳大利亚铁矿石,澳大利亚已被拿捏,澳总理求助无门
Sou Hu Cai Jing· 2025-10-03 00:23
全球最大的铁矿石买家突然按下暂停键! 2025年9月30日,中国矿产资源集团要求国内企业全面暂停购买以美元计价的澳大利亚必和必拓铁矿石新船货。 这一决定直接切断了澳大利亚对华铁矿石贸易的核心通道,澳总理阿尔巴尼斯次日紧急回应,称中方的举动"令人失望",并希望问题"迅速解决"。 必和必拓是澳大利亚三大矿业巨头之一,2024年对华铁矿石出口额超过1200亿澳元。 中国此次针对性制裁仅限必和必拓的美元计价贸易,其他澳企如力拓、FMG未受影响,人民币计价的现货交易仍可进行。 这表明中方的行动并非全面对 抗,而是精准施压。 表面看,争端源于价格分歧。 2025年全球铁矿石需求放缓,价格较2024年下跌19%,必和必拓上半年利润降至102亿美元。 中方认为澳方报价背离市场趋 势,但更深层的原因是中方试图打破美元计价体系,推动人民币结算。 中国矿产资源集团成立于2022年,专门整合国内铁矿石采购需求,以"单一买家"身份与国际矿商谈判。 但这场看似突然的贸易摩擦,实则是中澳双方在铁矿石价格和结算货币上长期博弈的必然结果——中国不再满足于被动接受定价,而澳大利亚必须面对买方 市场的规则重塑。 此次贸易争端的导火索是9月中澳多轮 ...
BHP Inks Renewable Electricity Supply Deal for Copper SA Operations
ZACKS· 2025-10-02 14:16
Key Takeaways BHP signed its third and biggest renewable electricity deal for South Australian operations.The 100 MW supply comes from Neoen's Goyder North Wind Farm and Goyder Battery.This deal helps BHP in its journey toward 30% emissions cut by 2030 and net zero by 2050.BHP Group Limited (BHP) has signed its third and largest renewable electricity supply arrangement for its Copper SA (Copper South Australia) operations. This marks a step in its operational decarbonization journey while generating investm ...
不以人民币结算?必和必拓的铁矿石我不收了,美元不香了?
Sou Hu Cai Jing· 2025-10-02 10:32
9月初,一则看似普通的通知,在大宗商品圈子里引起了不小的震动:中国矿产资源集团明确告诉国内买家,暂时别再接收必和必拓那批以美元计价的铁矿 石。 这不是小动作。必和必拓是澳大利亚最大的矿企之一,中国则是全球最大的铁矿石进口国,一年进口量占了全球海运量的七成以上。 买方突然暂停采购,不是说不要铁矿石了,而是对交易方式提出了明确的态度。换句话说,不是货不好,而是结算方式不合适。 这事发生得不突然。从今年8月下旬开始,中国方面就在与几家主要矿商就价格问题僵持不下,特别是关于中品位铁矿石的折扣定价。 必和必拓并没有表现出太多让步的意思,谈判迟迟没有进展。而就在这时候,关于采购暂停的消息流出,时间点非常微妙。 澳大利亚政府很快有所回应,总理阿尔巴尼斯在9月中旬接受采访时说对这个决定"感到遗憾",希望尽快恢复正常贸易。但中国并没有立刻做出调整。 这一举动不是情绪化的反应,而更像是计划之中的一环。对于很多关注国际贸易的人来说,这像是一场早就布好局的游戏,关键只在什么时候出牌。 过去很多年,铁矿石市场基本由三家巨头控制:必和必拓、力拓和淡水河谷。这三家掌握着最重要的资源和运输通道,从开采到定价都说了算。 买家再大,也只能按照他 ...
麦格理下调必和必拓、力拓集团等目标价
Ge Long Hui A P P· 2025-10-02 01:09
格隆汇10月2日|麦格理:将必和必拓目标价下调2%至每股42澳元;将力拓集团目标价上调4%至每股 115澳元;将海滩能源(Beach Energy)目标价下调2.2%至每股0.90澳元;将伍德赛德能源(Woodside Energy)目标股价下调4%至每股24澳元。 ...