China’s state-backed iron ore buyer has instructed the country’s top steelmakers and traders to temporarily halt all purchases of dollar-denominated seaborne iron ore cargoes from BHP, Bloomberg reported on Tuesday, citing people familiar with the matter. The directive is the latest escalation in Beijing’s effort to wield its market power. China consumes around 75% of [...]The post China Expands Freeze on BHP Iron Ore Purchases, Escalating Tensions in Global Commodities Trade appeared first on Tekedia.
China Expands Freeze on BHP Iron Ore Purchases, Escalating Tensions in Global Commodities Trade
