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INSIDE BEIJING'S BID TO TAME THE GLOBAL IRON ORE MARKET

  • NEWS Desk Global
  • Dec 29, 2025
  • 1 min read

China's state iron ore buyer is using increasingly hardball tactics against mining giants such as BHP to tighten its grip on the $132 billion seaborne market and extract better terms for steel mills, just as a giant new source of supply is set to strengthen its hand.

China Mineral Resources Group (CMRG) in November asked its steel mills and traders not to buy spot cargoes of a second BHP product, months after it blacklisted a first that drew concern from top supplier Australia's prime minister.

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