China is promoting the use of the yuan for iron ore trading. (Source: Envato) Show Quick Read Summary is AI Generated. Newsroom Reviewed

Australian mining company BHP Billiton has inked a groundbreaking pact with Chinese buyers to settle 30% of its iron ore spot deals using the Chinese yuan (RMB) instead of US dollars. The arrangement, set to take effect in Q4 2025, represents a notable departure from standard commodity trading practices and may indicate a realignment in the global iron ore price landscape.

The agreement goes far beyond a basic shift in currency use. Industry insiders note that it involves linking domestic lending, international payment networks and exchange rate hedging to create a fully self-contained financial cycle. This intricate framework highlights how strate

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