Fortescue says China state buyer's actions undermine stable iron ore supply
31/07/2026 01:41
Fortescue says China state buyer's actions undermine stable iron ore supply MELBOURNE, July 31 (Reuters) - Actions by China's state iron ore buyer are undermining stable ore supply to the country, Agustin Pichot, the head of energy at Australian miner Fortescue FMG.AX, said on Friday, adding the company hopes to see a return to normal market conditions as soon as possible.
Global iron ore miners have faced increasing resistance from China Mineral Resources Group (CMRG), the state buyer, in annual supply talks over the past year as China seeks better terms for its steelmakers.
(Reporting by Melanie Burton in Melbourne and Renju Jose in Sydney; Editing by Christian Schmollinger)
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