China's state iron ore buyer gets down to business, yet to flex pricing power

China's state iron ore buyer gets down to business, yet to flex pricing power

From channelnewsasia.com

China's new state iron ore buyer is asserting itself in negotiating deals for the world's biggest steel industry but has yet to help manufacturers struggling with weak demand to get lower prices, mills and miners said. Around 30 Chinese steel mills have signed 2023 iron ore procurement contracts through China Mineral Resources Group (CMRG), which was set up last year to buy iron ore on behalf of the industry as well as oversee Chinese interests in mines abroad and at home. "We have not received any cheaper iron ore prices and to be honest I don't expect they can get better deals any time soon," a purchasing manager ... (full story)

- Older Stories
Timely information on the Trade Balance of Merchandise in Mexico - April, 2023
From inegi.org.mx|May 25, 2023
In April 2023, according to timely information on foreign trade, a trade deficit of 1,509 million dollars was registered, a balance that compares with the deficit of 1,783 million ...
Russian gold shipments to the UAE, China and Turkiye
From brecorder.com|May 25, 2023
The United Arab Emirates has become a key trade hub for Russian gold since Western sanctions over Ukraine cut Russia’s more traditional export routes, Russian customs records ...
Silver: XAG/USD Continues to Look for Momentum
From dailyforex.com|May 25, 2023
The Silver market experienced a significant decline on Wednesday as initially, the US dollar emerged as the default winner in early trading hours. However, releasing weak US and ...

- Newer Stories
Unemployment Insurance Weekly Claims
From dol.gov|May 25, 2023|3 comments
In the week ending May 20, the advance figure for seasonally adjusted initial claims was 229,000, an increase of 4,000 from the previous week's revised level. The previous week's ...
Gross Domestic Product (Second Estimate) and Corporate Profits (Preliminary), First Quarter 2023
From bea.gov|May 25, 2023|14 comments
Real gross domestic product (GDP) increased at an annual rate of 1.3 percent in the first quarter of 2023 (table 1), according to the "second" estimate released by the Bureau of ...
McCaul: Getting Close to Debt Deal, It’s Down to Details Now
From @sevenloI|May 25, 2023
tweet at 8:41am: *McCaul: Getting Close to Debt Deal, It’s Down to Details Now tweet at 8:41am: MCCARTHY: I HAVE INSTRUCTED NEGOTIATORS TO WORK 24 HOURS A DAY TO GET A DEBT CEILING DEAL tweet at 8:41am: HOUSE REP. SPEAKER MCCARTHY: NOT EVERYONE WILL BE HAPPY WITH THE DEBT DEAL.

Related Stories