A development in the global steel industry may have implications for trade. China's state iron ore buyer has reportedly instructed certain steel mills to stop discussing shipments with Rio Tinto that are scheduled for September. This move appears to be increasing pressure on a major player in the industry.

Details of the situation are limited, but it is known that the directive came from China's state iron ore buyer. The instruction to halt negotiations applies to some steel mills and specifically mentions shipments from Rio Tinto starting in September. Further information on this matter can be found through Reuters, as reported in the Galveston County Daily News.