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Market Chatter: China Steel Mills Told to Refuse Iron Ore Deliveries from Fortescue

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Chinese iron ore purchaser China Mineral Resources Group, or CMRG, called on domestic steel mills not to accept deliveries of iron ore products from Australia's Fortescue (ASX:FMG), Reuters reported Thursday, citing five people with knowledge of the matter.

Fortescue's Super Special Fines and Fortune ​Fines are said to be lower-grade iron ore products, the report said.

The move is seen as CMRG's way to control the entry of iron ore into the Chinese market, Reuters said.

Fortescue did not immediately respond to a request for comment from.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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