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Wood Mackenzie: China Mineral Resources Group's push for iron ore pricing power may make Japan a price taker
According to consultant Wood Mackenzie Ltd., Japan and other major iron ore buyers risk becoming price takers as China Mineral Resources Group Co. (CMRG), a state-backed purchasing company, seeks greater influence over how the steelmaking ingredient is priced. CMRG is shifting from a centralized buying role to a potential force in global price formation, meaning costs for Japan and other buyers could become more sensitive to Chinese port inventories, yuan conditions, market sentiment, and the rhythm of CMRG’s purchases.
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Disclaimer: This content reflects the author's personal views only and does not constitute investment advice.
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