China’s plans to form the world’s largest iron ore buyer may allow the country to get lower prices for the commodity someday, but they should not have much of an impact on the dry bulk market, market watchers say.
State-owned China Mineral Resources Group (CMRG) is set to become the biggest iron ore buyer on the planet next year when it seeks to consolidate purchases on behalf of almost 20 of the biggest Chinese steelmakers, Bloomberg has reported.
