BHP responds to China, says sold large iron ore volumes in spot market

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

BHP, the world’s third-largest iron ore miner, said it had produced iron ore at full capacity between July and December last year and sold all of that material.

“We aim to improve transparency by increasing liquidity in the spot market,” BHP said in a statement e-mailed to Reuters.

via Business feed http://www.scmp.com/business/money/market-snapshot/article/1185321/bhp-responds-china-says-sold-large-iron-ore-volumes