SWF Radar

Bloomberg reports that, “Baosteel Group Corp., China’s biggest steelmaker, may buy a stake in Fortescue Metals Group Ltd. to reduce its reliance on supplies from rival Australian iron ore producers.”

Thomson Reuters reports that, “China’s top steelmaker, Baosteel Group, aims to boost cooperation with Australian iron ore producer Fortescue Metals Group Ltd, a senior executive said on Thursday, although officials gave no clear indications on the possibility of an equity tie.”