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4-Traders Homepage  >  Equities  >  AUSTRALIAN SECURITIES EXCHANGE LIMITED  >  BHP Billiton Limited    BHP   AU000000BHP4

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Singapore's GlobalORE To Launch Iron Ore Trading Platform Wednesday

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05/29/2012 | 11:05am CEST

Singapore-based GlobalORE will launch its physical iron ore trading platform Wednesday as efforts to set up a price benchmark gather momentum.

GlobalORE will operate trading windows on weekdays between 3 p.m. and 4 p.m. Singapore and China time, and its office will actively assist members who trade during this time period, the company said on its website Tuesday, without elaborating.

Members will still be able to access the platform and trade outside this time period, it added.

Baosteel Group Corp., BHP Billiton Ltd. (BHP), Glencore International Plc (0805.HK), Hunan Valin Steel Co. (000932.SZ), Minmetals, Rio Tinto Plc (RIO) and Vale S.A. (VALE) are founder shareholders of the company.

Earlier this month, China Beijing International Mining Exchange, or CBMX, launched its physical iron ore trading platform with members including Vale, BHP Billiton and Rio Tinto.

Iron ore prices in the spot market are hovering around $132 a metric ton, down 10% so far this month.

-By Sameer Mohindru, Dow Jones Newswires; +(65) 6415-4085; sameer.mohindru@dowjones.com

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Financials ($)
Sales 2017 38 741 M
EBIT 2017 12 842 M
Net income 2017 6 839 M
Debt 2017 18 398 M
Yield 2017 4,44%
P/E ratio 2017 14,61
P/E ratio 2018 15,60
EV / Sales 2017 3,04x
EV / Sales 2018 2,99x
Capitalization 99 436 M
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Mean consensus OUTPERFORM
Number of Analysts 19
Average target price 20,6 $
Spread / Average Target 5,6%
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Managers
NameTitle
Andrew Mackenzie CEO & Non-Independent Executive Director
Jacques Albert Nasser Chairman
Peter Beaven Chief Financial Officer
Diane Jurgens Chief Technology Officer
Wayne William Murdy Independent Non-Executive Director
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ANGLO AMERICAN0.99%20 156