Rio, Fortescue Change Benchmark Used for China Iron Ore Pricing
Market Intelligence Analysis
AI-PoweredRio 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.
Market impact analysis based on neutral sentiment with 66% confidence.
Article Context
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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