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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; [email protected]

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Financials ($)
Sales 2018 40 799 M
EBIT 2018 13 436 M
Net income 2018 7 102 M
Debt 2018 12 817 M
Yield 2018 3,91%
P/E ratio 2018 14,89
P/E ratio 2019 16,83
EV / Sales 2018 2,94x
EV / Sales 2019 2,88x
Capitalization 107 B
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Mean consensus OUTPERFORM
Number of Analysts 19
Average target price 21,6 $
Spread / Average Target 1,5%
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Managers
NameTitle
Andrew Mackenzie CEO & Non-Independent Executive Director
John Kenneth Norman MacKenzie Chairman
Steve Pastor President Operations-Petroleum
Peter Beaven Chief Financial Officer
Diane Jurgens Chief Technology Officer
Sector and Competitors
1st jan.Capitalization (M$)
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RIO TINTO13.95%88 307
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GRUPO MEXICO S.A. DE C.V.8.97%25 481