Yuan-based deals make up small proportion of iron ore market despite recent growth

Chinese steelmakers’ ongoing efforts to enhance their pricing power when it comes to procuring imported iron ore could benefit from the internationalization of the yuan and increased trading of yuan-denominated materials at ports in the country.

But it will take time – and transparency – for such yuan-based sales to increase significantly in volume, sources said. Port trading patterns While the US dollar remains the main medium...


Alice Li

September 18, 2023

09:40 GMT