BHP hits back at China accusation of price manipulation

BHP Billiton said on Thursday it was committed to a transparent iron ore market, responding to allegations by top consumer China that major miners had manipulated the market to drive an 80 per cent jump in prices over the past six months.

China’s national planning agency said on Wednesday the world’s top three miners and some traders had delayed shipments and held back stocks “to send a fake market signal that there was a supply shortage”.

via Business feed http://www.scmp.com/business/companies/article/1185404/bhp-hits-back-china-accusation-price-manipulation