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China's state iron ore buyer has lifted its previous restriction on BHP iron ore cargoes, allowing local plants to bid in US dollars.
China Mineral Resources Group has lifted its ban on BHP's dollar-denominated iron ore cargoes.
KEY POINTS
- Chinese plants can now bid for BHP iron ore in US dollars starting as early as Tuesday.
- The restriction on BHP iron ore purchases had been in place since September last year.
- The policy change aims to stabilize China's raw material supply chain for steel production.
COMPANIES
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