China warns of risks of buying Iranian iron ore

SHANGHAI, Dec 21 (Reuters): China on Wednesday warned about the risks of importing Iranian iron ore, the second major commodity from the sanctions-hit Islamic Republic under scrutiny as the two also tussle over oil payment terms. The warning from the Commerce Ministry to domestic companies, which focused on substandard quality and on delivery problems, follows a crude imports spat that has seen China halve its Iranian oil shipments for January. "I would consider this very similar to the crude oil import limitation by Zhuhai Zhenrong," said an iron ore analyst in Beijing who asked not to be identified due to the sensitive nature of the matter.