Market Chatter: Rio Tinto Strikes Supply Deal With China's State Iron Ore Buyer

MT Newswires Live10-21 22:49

Rio Tinto (RIO) has agreed to a new supply contract with China's state iron ore buyer, Reuters reported Wednesday, citing people with knowledge of the matter.

China Mineral Resources Group (CMRG) has verbally notified some steel mills of the deal, the report said.

Starting Thursday, CMRG will begin collecting information on volumes that each mill needs to buy from Rio, the report said, citing two of the people.

Rio Tinto didn't immediately reply to a request for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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