Marius Kloppers spent nearly a decade fighting to tear up the way the world priced iron ore. 

In his words, "I carry the scars on my back for bringing this matter to the attention of the world." 

After the most turbulent decade in recent commodity market history, he won. Iron ore would float on the open market. 

We relive the fight, and look at it in the context of today's standoff, with China's state buyer CMRG organising to claw back power from the Aussie majors. 

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TIMESTAMPS  

(0:00) BHP Ends the Benchmark
(7:10) How Annual Pricing Worked
(10:50) China Enters the Picture
(16:50) Meet Marius Kloppers
(22:50) 2000s Price Shocks and Freight
(28:50) Kloppers Pushes Market Pricing
(34:40) Takeover Bid and Benchmark Cracks
(40:40) GFC Fallout and Contract Defaults
(47:30) Stern Hu Arrest and Spot Victory
(56:10) CMRG Returns, Price Wars

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