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China's Centralised Buyer Is Squeezing Fortescue on Iron Ore Price
Beijing's iron ore buying bloc is now pressuring Fortescue Metals Group, adding to similar moves against BHP and putting Australia's biggest export earner under threat.
Why it mattersIf China succeeds in forcing down iron ore prices through CMRG, Australian state and federal government revenues, which depend heavily on mining royalties and taxes, could face a significant shortfall.
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