Iron ore sales to China from Australia’s Port Hedland climbed 27 percent in January from a year earlier as miners increased output and the biggest buyer boosted inventories to the highest level in 16 months.
BHP Billiton Ltd. , the world’s largest mining company, may use last month’s 16 percent decline in iron-ore prices to persuade steelmaking clients to pay cash instead of contract-based prices from next quarter.
With a shortage of doctors in the U.S. already and millions of new patients set to gain coverage under President Barack Obama’s health-care overhaul, American medical schools are struggling to close the gap.
A plunge in iron ore prices and shipping costs means it’s cheaper for Chinese steel mills to buy the material from Brazil more than 8,000 nautical miles away than to buy the lower-grade ore being dug in their own backyard.
House Republican leaders are considering a delay in debt-ceiling proposal, according to a congressional aide, as the Senate plans to vote tomorrow on a spending bill to avoid a government shutdown in four days.