Navigate Commodities managing director Atilla Widnell agreed yuan-pricing was a natural commercial move for iron ore miners to increase sales in China, but just as importantly, it was also another strategy for China to reduce iron ore pricing volatility. Photo: Shutterstock
Navigate Commodities managing director Atilla Widnell agreed yuan-pricing was a natural commercial move for iron ore miners to increase sales in China, but just as importantly, it was also another strategy for China to reduce iron ore pricing volatility. Photo: Shutterstock

China’s yuan gains foothold in iron ore deals, could increase Chinese self-reliance, analysts say

  • Australia’s Rio Tinto, BHP Group and Fortescue Metals, as well as Brazil’s Vale, recorded their first yuan-denominated transactions in China in the last year
  • More yuan-prices transactions will increase the internationalisation of the Chinese currency and also help the economy in line with the new ‘dual circulation’ strategy

Navigate Commodities managing director Atilla Widnell agreed yuan-pricing was a natural commercial move for iron ore miners to increase sales in China, but just as importantly, it was also another strategy for China to reduce iron ore pricing volatility. Photo: Shutterstock
Navigate Commodities managing director Atilla Widnell agreed yuan-pricing was a natural commercial move for iron ore miners to increase sales in China, but just as importantly, it was also another strategy for China to reduce iron ore pricing volatility. Photo: Shutterstock
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