Market Chatter: BHP Group's Iron Ore Product Banned in China Over Contract Dispute

MT Newswires Live03-12

BHP Group's (BHP) Newman fines, a specific grade of iron ore, has been banned by state-owned China Mineral Resources Group for domestic firms starting next week over a contract dispute, Reuters reported Thursday, citing three sources with knowledge of the matter.

Customers are still permitted to accept deliveries of the ore within the next five working days, two of the sources reportedly said.

The Chinese government has been increasing restrictions on purchases of BHP's iron ore over the past six months as it negotiates the terms of its 2026 contract with steelmakers, according to the report. It banned Jimblebar fines in September and the Jinbao product in November, the report said.

BHP declined to comment when contacted by MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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