business / news / / PerthNow
China has lifted bans on procurement of the key steelmaking ingredient from mining giant BHP Group.
China has lifted a six-month ban on BHP Group's iron ore cargoes for domestic steel mills.
KEY POINTS
- CMRG notified steel mills they can resume buying and taking delivery of BHP's previously banned products.
- The bans had restricted spot market iron ore supply, raising prices despite record-high portside stocks in March.
- CMRG's curbs were linked to ongoing negotiations with BHP over a 2026 supply contract.
COMPANIES
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