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Analysis: China’s Standoff With BHP Tests Global Iron Ore Pricing and Yuan’s Reach

Summary by Caixin Global
Analysis: China’s Standoff With BHP Tests Global Iron Ore Pricing and Yuan’s Reach - With CMRG taking the lead, China is testing its ability to dictate iron ore terms —from pricing benchmarks to currency choice — in a shifting global market

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Caixin GlobalCaixin Global
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Analysis: China’s Standoff With BHP Tests Global Iron Ore Pricing and Yuan’s Reach

Analysis: China’s Standoff With BHP Tests Global Iron Ore Pricing and Yuan’s Reach - With CMRG taking the lead, China is testing its ability to dictate iron ore terms —from pricing benchmarks to currency choice — in a shifting global market

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the deep divethe deep dive

BHP adopts renminbi to settle China spot iron ore sales

BHP goes Chinese as it settles 30% of China spot iron-ore sales in RMB from Q4 2025; 2026 long-term contracts stay in USD.

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Caixin Global broke the news in on Monday, October 13, 2025.
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