China's state iron-ore buyer is reportedly in talks with miner CSN, a sign Beijing wants more control over how the world prices the steel ingredient.
Key Facts
—The talks. China’s state iron-ore buyer is reportedly negotiating with Brazil’s CSN.
—The aim. The buyer, CMRG, wants to be exclusive sales agent for some CSN cargoes.
—The scale. CSN produced about 45.5 million tonnes of iron ore last year.
—The shift. CMRG is reaching beyond the majors to a mid-tier supplier.
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