Will China's deal with Australian mining giant BHP boost yuan internationalization?

Sylvia Ma and Kandy Wong South China Morning Post, Hong Kong Friday, April 24, 2026 Australian mining giant BHP's decision to adopt a yuan-denominated index for a major Chinese buyer poses a challenge to the U.S. dollar's long-standing dominance in iron ore pricing, delivering a hard-won victory for Beijing, analysts said. But while the agreement marked a breakthrough in Beijing's push to gain greater commodity pricing power at a time when the United States faces growing "geopolitical isolation," analysts stressed that its broader efforts to reshape the old order remained far from complete. ... Dispatch continues below ... ... ADVERTISEMENT ... Are you ready to safeguard your assets using precious metals? Hero Bullion is a precious metals dealer with an extensive inventory of competitively priced gold, silver, and platinum products. We didn't get into this business just to sell metals. Our goal is to educate investors to help them make sounder financial decisions. For four years we have focused on educational resources, competitive prices, and reliable, secure shipping. Check out our reviews. Hero Bullion is quickly becoming a favorite of customers all over the country. We're committed to helping you cut through the hype and build your portfolio with high-quality, affordable precious metals. Visit us here: www.herobullion.com Hero Bullion: Gold and silver simply delivered "The agreement marks the first time China's own market trading data has been incorporated into the iron ore pricing formula, representing a paradigm shift in pricing benchmarks," said Xu Yidan, a ferrous metals analyst at GF Futures. "It changes the rules of the trade and strengthens China's pricing influence in the iron ore market." Beijing has pushed the yuan's internationalisation over the past decade, a campaign now gaining momentum amid growing concerns over Washington's "weaponization" of the dollar and widening geopolitical fault lines. A currency's global status is typically judged across several metrics, including its role in commodity pricing. ... ... For the remainder of the report: https://www.scmp.com/economy/china-economy/article/3351333/will-chinas-deal-australian-mining-giant-bhp-boost-yuan-internationalisation * * * Support GATA by purchasing Stuart Englert's "Rigged" "Rigged" is a concise explanation of government's currency market rigging policy and extensively credits GATA's work exposing it. Ten percent of sales proceeds are contributed to GATA. Buy a copy for $14.99 through Amazon: https://www.amazon.com/Rigged-Exposing-Largest-Financial%20-History/dp/1651405204/ref=sr_1_fkmr1_2?keywords=rugged+stuart+englert&qid=1579708888&sr=8-2-fkmr1 * * * Help keep GATA going: GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at: http://www.gata.org To contribute to GATA, please visit: http://www.gata.org/node/16 Donations of $500 or more will entitle the donor to a 1-ounce silver round commemorating GATA's work: https://www.gata.org/sites/default/files/GATA-silver-round-front.png