US EditionChina Bans All BHP Iron Ore Cargoes as Pricing Dispute Deepens
China Mineral Resources Group has expanded its purchase halt on BHP iron ore amid stalled contract talks as Beijing seeks greater influence over global pricing.
- China has banned all iron ore cargoes from BHP amid a pricing dispute, according to reports from Bloomberg News.
- China Mineral Resources Group urged local mills to pause purchases of any dollar-denominated seaborne iron ore cargoes from BHP.
- This action emphasizes China's goal to influence global iron ore prices further, crucial for steel production.
- Last year, Australia's iron ore exports were valued at approximately $138 billion, a key factor in its economy.
31 Articles
31 Articles
Chinese Iron Ore Buyer Reportedly Stops All BHP Trades, PM Calls for Quick Resolution
Reports have emerged that China Mineral Resources Group (CMRG), a Chinese Communist Party (CCP)-controlled iron ore buyer, ordered local steelmakers and traders to suspend purchases of all new cargoes from the world’s largest mining company, BHP. This caused BHP’s shares to slip 1.5 percent to $41.88 (US$27.68) at midday AEST, having also dropped in London (-2.2 percent) and New York (-0.8 percent) overnight. According to sources cited by Bloomb…
China's cargo ban gives new meaning to BHP's 'Broken Hill' origin
China has ordered domestic steel mills and trading firms to suspend all new purchases of BHP Group’s iron ore cargoes, escalating a pricing dispute that has unsettled commodity markets and placed fresh pressure on Australia’s mining sector. China Mineral Resources Group (CMRG), a state-owned Chinese company established in July 2022 to centralize the import of […] The post China’s cargo ban gives new meaning to BHP’s ‘Broken Hill’ origin appeared…
China bans all BHP iron ore shipments amid pricing row
China has banned one of Australia's largest export commodities, putting a halt on BHP iron ore cargoes amid a deepening pricing dispute.State-run iron ore trader China Mineral Resources Group (CMRG) urged local mills to temporarily pause purchases of any dollar-denominated seaborne iron ore cargoes from BHP, reports Bloomberg News.The move comes as contract talks between the Australian miner and Chinese buyers stall.READ MORE: How Labor's fast-t…
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