Rio, Fortescue Change Benchmark Used for China Iron Ore Pricing

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Rio Tinto and Fortescue have switched the benchmark used for pricing iron ore shipments to China, a rare change following public criticism from a state-backed buyer.

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Market impact analysis based on neutral sentiment with 66% confidence.

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66%

Article Context

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Rio Tinto Group and Fortescue Ltd, two of the world’s largest iron ore producers, have switched the index they use to price shipments for the world’s largest commodities consumer, a rare change that follows public criticism of the current mechanism from state-backed buyer China Mineral Resources Group.

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Original article published by Bloomberg on December 29, 2025.
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