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ASX falls as war uncertainty lingers; BHP gains on China breakthrough, Cochlear plummets
BHP rose 1.3% after settling a nine-month pricing dispute with China’s state-backed buyer, while the ASX fell 0.7% as Middle East tensions curbed risk appetite.
- On Wednesday, BHP finalized a supply contract with the China Mineral Resources Group, ending a disruptive nine-month standoff over iron ore pricing and commercial terms.
- China initiated the pricing battle nine months ago by banning BHP's Jimblebar Fines, seeking greater control over iron ore costs as steelmakers faced margin pressure.
- The dispute involved Australia's $93 billion annual iron ore export trade with China, though BHP did not disclose contract terms, leaving potential for future disagreements.
- While the broader ASX fell 0.7 per cent amid Middle East war jitters, BHP shares climbed 1.3 per cent following the resolution.
- President Donald Trump extended a ceasefire indefinitely as peace talks between the United States and Iran failed, leaving geopolitical uncertainty weighing on markets.
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The Age
BHP has won the battle, but China’s $93b iron ore flex will continue
The stakes were huge in the brutal nine-month iron ore pricing stand-off between China and our largest miner - for the company, the industry and the Australian economy.
·Sydney, Australia
Read Full ArticleBHP Concludes Months of Talks With China’s Iron Ore Buyer
BHP Group has struck a supply deal with China’s state-backed iron ore buyer, ending a months-long standoff between a vital consumer and the world’s largest miner that has roiled markets and hampered steel mills’ access to key products.
·United States
Read Full ArticleCoverage Details
Total News Sources11
Leaning Left3Leaning Right2Center1Last UpdatedBias Distribution50% Left
Bias Distribution
- 50% of the sources lean Left
50% Left
L 50%
C 17%
R 33%
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