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CMRG orders steel mills to suspend Rio Tinto supply talks from September

Rio Tinto logoRio Tinto
Sig3.33Sen-3.33Env0.00Soc0.00Gov0.00

China Mineral Resources Group (CMRG) has directed certain steel mills to suspend supply negotiations with Rio Tinto starting in September. CMRG is using its buying influence to push for better terms for Chinese steelmakers by limiting purchases from major iron ore suppliers, and the move is seen as leverage against mills that have not yet ceded negotiating rights.

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