Foreign media: China Minmetals Resources Group (CMRG) has verbally notified some domestic steel mills that, starting from July 15, they are no longer allowed to accept port inventory shipments of low-grade iron ore products "Super Extra Fine" and "Wealthy Powder" from Fortescue, an Australian mining company.
This move marks the latest step by China Minmetals Resources Group (CMRG) in further tightening control over the iron ore import market, following the prolonged deadlock with BHP that concluded in April. Fortescue's exports to China account for a major share of its iron ore sales, and it is currently still negotiating supply terms with CMRG.
CMRG was established in 2022 with the aim of consolidating iron ore procurement to strengthen its bargaining power.
Original article: toutiao.com/article/1869579363078284/
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