China’s new iron ore buying giant, CMRG, is flexing its muscle to slash prices on Australian ore — a move echoing last year’s pressure on BHP — as Fortescue stands firm, demanding fair market value and warning that trade friction threatens global steel supply chains. While China may be quietly restricting imports to gain leverage, Fortescue remains focused on long-term stability and is eyeing Southeast Asia and India for future growth, reminding the world that Beijing’s market power isn’t new — it’s just getting more strategic.
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