China to Add Vale, Rio and BHP to Spot Iron Ore Platform

Bloomberg reported China will include Vale (SAO:VALE5), Rio Tinto (NYSE:RIO,ASX:RIO) and BHP Billiton (NYSE:BHP,TSX:BHP,ASX:BHP) on its new spot iron ore trading platform.

As quoted in the market news:

The world’s three largest exporters will follow Fortescue Metals Group Ltd. (FMG),Australia’s third-largest shipper, in joining the platform that will officially start operating in the first half of the year, Zhang Changfu, vice chairman and secretary general of the China Iron and Steel Association, said today in an interview in Shanghai.

Click here to read the full Bloomberg report.