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)