BHP, Rio Tinto Shares Fall 7% After Chinese State-Backed Firm Urged Traders About BHP Iron Ore Restrictions

MT Newswires Live03-06 09:15

Shares of BHP Group (ASX:BHP) and Rio Tinto (ASX:RIO) fell 7% in recent trading on Friday after China Mineral Resources Group urged traders to refrain from buying new BHP cargoes, Bloomberg News reported on the same day, citing two people familiar with the matter.

Shares of Fortescue (ASX:FMG) fell 3%.

The state-backed buyer initially ordered steel producers to stop buying BHP's Jimblebar blend fines in September 2025, before restricting purchases of all new products, which are denominated in dollars.

A BHP spokesperson declined to comment, while China Mineral Resources Group didn't immediately respond to a request for comment, per the report.

Separately, China Mineral Resources Group told traders to buy fewer seaborne cargoes of BHP's Mac fines, Newman fines, and Newman lumps, Reuters reported, citing two people.

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