Could Rio Tinto, BHP Ally to Defend Iron-Ore Pricing Power? -- Market Talk

Dow Jones

10/20

The newfound influence of state-backed iron-ore buyer China Mineral Resources Group "may have unintentionally reopened the strategic logic" for some cooperation between miners Rio Tinto and BHP in Australia's Pilbara, RBC Capital Markets analyst Kaan Peker says in a note. "Once unthinkable, now potentially pragmatic," Rio and BHP could consider a "narrowly structured and compliance-driven" alliance to protect their power in iron-ore supply negotiations, Peker says. CMRG, formed three years ago, today coordinates procurement for more than 85% of China's steel capacity. Peker reckons a "JV-light" approach focused on logistics, blending and decarbonization "could dilute the CMRG's influence, defend the Pilbara premium and maintain control over benchmark price formation." It could also have margin and capital expenditure benefits, he adds. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)

(END) Dow Jones Newswires

October 19, 2025 19:09 ET (23:09 GMT)

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CMRG, formed three years ago, today coordinates procurement for more than 85% of China's steel capacity. Peker reckons a \"JV-light\" approach focused on logistics, blending and decarbonization \"could dilute the CMRG's influence, defend the Pilbara premium and maintain control over benchmark price formation.\" It could also have margin and capital expenditure benefits, he adds. 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CMRG, formed three years ago, today coordinates procurement for more than 85% of China's steel capacity. Peker reckons a \"JV-light\" approach focused on logistics, blending and decarbonization \"could dilute the CMRG's influence, defend the Pilbara premium and maintain control over benchmark price formation.\" It could also have margin and capital expenditure benefits, he adds. (rhiannon.hoyle@wsj.com; @RhiannonHoyle) \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  October 19, 2025 19:09 ET (23:09 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4561","symbol_name":"索羅斯持倉","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2576004385","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2576004385","pubTimestamp":1760915340,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"The newfound influence of state-backed iron-ore buyer China Mineral Resources Group \"may have unintentionally reopened the strategic logic\" for some cooperation between miners Rio Tinto and BHP in Australia's Pilbara, RBC Capital Markets analyst Kaan Peker says in a note. \"Once unthinkable, now potentially pragmatic,\" Rio and BHP could consider a \"narrowly structured and compliance-driven\" alliance to protect their power in iron-ore supply negotiations, Peker says. CMRG, formed three years ago, today coordinates procurement for more than 85% of China's steel capacity. Peker reckons a \"JV-light\" approach focused on logistics, blending and decarbonization \"could dilute the CMRG's influence, defend the Pilbara premium and maintain control over benchmark price formation.\" It could also have margin and capital expenditure benefits, he adds. 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CMRG, formed three years ago, today coordinates procurement for more than 85% of China's steel capacity. Peker reckons a \"JV-light\" approach focused on logistics, blending and decarbonization \"could dilute the CMRG's influence, defend the Pilbara premium and maintain control over benchmark price formation.\" It could also have margin and capital expenditure benefits, he adds. (rhiannon.hoyle@wsj.com; @RhiannonHoyle) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  October 19, 2025 19:09 ET (23:09 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"corporation","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}