Column: Iron ore benchmarks diverge as China tries to cool prices

Santiago-headquartered Chilean state miner Codelco holds top spot.

Siemens Gamesa last month signed a deal with Australia's Arafura Rare Earths to procure 200 tonnes of materials a year.

Weaker-than-expected construction, particularly in the property sector, has pushed iron ore below $100 a tonne.

The DRC aims to boost its stake in a cobalt and copper joint venture with Chinese firms to 70% from 32%.

A detailed plan to suspend all mining activities in a region controlled by Myanmar's ethnic Wa militia force from August 1 was released earlier this month.

Around 30 mills signed iron ore contracts though China Mineral Resources Group.

A weaker yuan added to the gloomy mood.

Metal fell below $8,000 a tonne for the first time in six months as prospects for a quick rebound in China’s economy dim.

In the first three months of 2023, Asia accounted for 45% of the company’s revenue.