Australian iron ore supplier embraces Chinese market with yuan settlement

[MH.Yang]

BHP stop using Yuan to settle with Iron ore since 2020. This is not about deny or what.

They did it back in 2020, and no longer doing it now.

So what's your point??

Please read the article carefully:

July 2022 is the first CNY spot trade.
2020 is the first time to use CNY for trade.

Can you distinguish these two sentences?

 

[jhungary]

I have professional media called caixin and Asia Nikki back this article. You shall be the one to debunk it instead of BS here.

Hesteel Group, another leading steel mill, also comfirm settle payment with Australia counterpart in rmb since 2020 until now. Who r u to deny it?

Dude, I HAVE ALREADY debunked your entire article

Also, the word they used is "Since October 2020" that does not mean they are paying continuously.

Please read the article carefully:

July 2022 is the first CNY spot settlement.
2020 is the first time to use CNY for settlement.

Can you distinguish these two sentences?


View attachment 861192

Do you know what is "Spot Trade"??

let me give you a hint

Iron ore pricing explained - Fastmarkets

Everything you need to know about iron ore prices and how price indicators, indices and differentials provide transparency and opportunities for risk management.

www.fastmarkets.com

 

[MH.Yang]

Dude, I HAVE ALREADY debunked your entire article

Also, the word they used is "Since October 2020" that does not mean they are paying continuously.


Do you know what is "Spot Trade"??

Spot trade transaction time is very short.

You just said yourself that the order in 2020 is long-term, obviously not spot trade.

Obviously, these two transactions are not the same thing.

 

[Beast]

Dude, I HAVE ALREADY debunked your entire article

Also, the word they used is "Since October 2020" that does not mean they are paying continuously.


Do you know what is "Spot Trade"??

let me give you a hint

Iron ore pricing explained - Fastmarkets

Everything you need to know about iron ore prices and how price indicators, indices and differentials provide transparency and opportunities for risk management.

www.fastmarkets.com

As usual trolling by you. Your reply only make matter worst and let more reader know more of your despicable method deploy here. You are nothing but a joke!

 

[jhungary]

Spot trade transaction time is very short.

You just said yourself that the order in 2020 is long-term, obviously not spot trade.

Obviously, these two transactions are not the same thing.

No. Spot trade price is the price you use of a given day. That is a spot trade price. Today the spot trade price is $233 a ton.

If you want to get a margin price (that a way before the transaction close), that's a separate category

Nobody is talking about the settlement length of the contract, which mean there are no "different" between contract, and both (If it did happened in 2022) would have been spot price.

You also failure to explain the ship in the global time article. Which is just a double whammy.

As usual trolling by you. Your reply only make matter worst and let more reader know more of your despicable method deploy here. You are nothing but a joke!

So do tell me if the Global Time article is talking about a settlement in 2022??

Yes or No?

 

[MH.Yang]

No. Spot trade price is the price you use of a given day. That is a spot trade price. Today the spot trade price is $233 a ton.

If you want to get a margin price (that a way before the transaction close), that's a separate category

Nobody is talking about the settlement length of the contract, which mean there are no "different" between contract, and both (If it did happened in 2022) would have been spot price.

You also failure to explain the ship in the global time article. Which is just a double whammy.


So do tell me if the Global Time article is talking about a settlement in 2022??

Yes or No?

Don't change the subject any more. My profession is a foreign trade manager of ZCC.CT group who sells cemented carbide products. I know very well that the deal in this news report is not the same as the deal you said.

 

[Beast]

So do tell me if the Global Time article is talking about a settlement in 2022??

Yes or No?

So tell me , do BHP and Rio Tino Australia currently settle their transaction with Chinese counterpart in Yuan or USD?

Where is your proof to deny both caxing and asia Nikki reported of the transaction by Australia in rmb? Where is your proof to debunk Hesteel Group, another leading steel mill, who is a listed companies confirming they currently still settle payment from Australia side in 2022 with rmb?

 

[jhungary]

Don't change the subject any more. My profession is a foreign trade manager of ZCC.CT group who sells cemented carbide products. I know very well that the deal in this news report is not the same as the deal you said.

So your argument is 'Because I know??"

LOL.

I used to do a lot of commodity trading, and I have I have had my own commodity trading firm set up after I got my Master in International Business. Well, I don't do them anymore. but do you want to see my commodity trading license??

And even I won't say "I know it is true because I know it is true"

So tell me , do BHP and Rio Tino Australia currently settle their transaction with Chinese counterpart in Yuan or USD?

Where is your proof to deny both caxing and asia Nikki reported of the transaction by Australia in rmb? Where is your proof to debunk Hesteel Group, another leading steel mill, who is a listed companies confirming they currently still settle payment from Australia side in 2022 with rmb?

Dude, as I said, even with your stupid reference saying "They HOPE to get that to 10% this year"

How much do you think were settle in Yuan??

Also, I am not talking about Nikkei article, I am talking about this Global Times article is talking about stuff 2 years old. Are you denying that??

 

[Beast]

So your argument is 'Because I know??"

LOL.

I used to do a lot of commodity trading, and I have I have had my own commodity trading firm set up after I got my Master in Economy. Well, I don't do them anymore. but do you want to see my commodity trading license??

And even I won't say "I know it is true because I know it is true"

I thought u brag about as professional soldiers. Suddenly now you become a shrewd business man? Do maybe next time you want to claim you moon walk before together with Neil Armstrong on the moon?

 

[jhungary]

I thought u brag about as professional soldiers. Suddenly now you become a shrewd business man? Do maybe next time you want to claim you moon walk before together with Neil Armstrong on the moon?

So if it didn't stop you from being a stupid A and a human being, how are being a soldier and being a trader being a unexclusive event?

You only need money to trade. so are you saying soldier do not make money??



And I have said I have a LOT of business dealing in China probably since day 1 I was here, just because you keep saying you don't believe it, that does not mean it is not true.

 

[Beast]

So if it didn't stop you from being a stupid A and a human being, how are being a soldier and being a trader being a unexclusive event?

You only need money to trade. so are you saying soldier do not make money??



And I have said I have a LOT of business dealing in China probably since day 1 I was here, just because you keep saying you don't believe it, that does not mean it is not true.

Stop divert my point. I am still waiting for a professional article or link in 2022 from u to claim AUSTRALIA BHP and Rio tinto denying their transaction with Chinese counterpart in rmb.... Don't make me wait too long.

 

[jhungary]

Stop divert my point. I am still waiting for a professional article or link in 2022 from u to claim AUSTRALIA BHP and Rio tinto denying their transaction with Chinese counterpart in rmb.... Don't make me wait too long.

You are telling me to proof something does not exist.

There are no proof BHP still paying Yuan in 2022, that's the entire point. The Global Time Article is not written along the event now, that's we can all see. So you have to prove BHP is still paying Yuan in 2022.

Also, if you dont want diversion, then stop diverting your own point.

 

[Beast]

You are telling me to proof something does not exist.

There are no proof BHP still paying Yuan in 2022, that's the entire point. The Global Time Article is not written along the event now, that's we can all see. So you have to prove BHP is still paying Yuan in 2022.

Also, if you dont want diversion, then stop diverting your own point.

Lol...

Chinese steelmakers increasingly use yuan to buy iron ore abroad

Steel mills becoming a major force in drive to internationalize China's currency

asia.nikkei.com

Chinese Steelmakers Increasingly Use Yuan to Buy Iron Ore Abroad - Caixin Global

Chinese Steelmakers Increasingly Use Yuan to Buy Iron Ore Abroad - Baowu, Hesteel and others promote currency’s internationalization while reducing exchange-rate risks

www.caixinglobal.com

Hesteel Group, another leading steel mill, said on an investors' platform of the Shenzhen Stock Exchange that the company has been using the yuan for settlements with all of the world's three biggest iron ore suppliers -- Rio Tinto, BHP and Vale -- since October 2020.

I have the professional to back me. While u have zero things beside your childish ranting.

 

[jhungary]

Lol...

Chinese steelmakers increasingly use yuan to buy iron ore abroad

Steel mills becoming a major force in drive to internationalize China's currency

asia.nikkei.com

Chinese Steelmakers Increasingly Use Yuan to Buy Iron Ore Abroad - Caixin Global

Chinese Steelmakers Increasingly Use Yuan to Buy Iron Ore Abroad - Baowu, Hesteel and others promote currency’s internationalization while reducing exchange-rate risks

www.caixinglobal.com

Hesteel Group, another leading steel mill, said on an investors' platform of the Shenzhen Stock Exchange that the company has been using the yuan for settlements with all of the world's three biggest iron ore suppliers -- Rio Tinto, BHP and Vale -- since October 2020.

I have the professional to back me. While u have zero things beside your childish ranting.

none of it said anything about BHP having continue to settle with Yuan.

THey said they HAD (Past tense) with the big 3 to settle with Yuan. That we knew, as I said, it happened in 2020.

 

[mike2000 is back]

Seems this article has been debunked as incorrect. Think this thread should be closed down by MODs. No point to be going over silly arguments like that.