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Xi’s giant iron-ore trader is shaking up a $130bn market
Just three years after its founding, a Chinese government-run trader has become the single biggest force in the country’s $130-billion market for iron-ore imports. The rise of China Mineral Resources Group (CMRG) has allowed it to tame one of the world’s wildest commodities markets — sending volatility in iron-ore futures to a record low. It’s also playing a role in negotiations with global mining companies, potentially shifting the balance of power between China’s vast steel industry and major suppliers like Rio Tinto and BHP. CMRG is transforming a market that has been a thorn in the side of Chinese ... (full story)
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- Jun 20, 2025 1:48pm Posted byFundamental Analysis440
