Rio Tinto wants to charge Chinese buyers of its Australian iron ore an extra $1 per ton to discourage resales by its customers. Panjiva data shows China’s global imports of iron ore increased 11% in dollar terms in the three months to October 31 on a year earlier, led by a 12% increase from Australia. Yet, prices over the three months climbed 21%, suggesting volumes are actually down and that Rio Tinto may struggle in its quest to increase prices.
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