China Baowu chairman met with BHP executives

Reuters04-10 23:07

China Baowu chairman met with BHP executives

BEIJING, April 10 (Reuters) - China Baowu Steel Group's chairman met with executives at global miner BHP Group BHP.AX this week in Shanghai to discuss industry challenges and strategic cooperation, the Chinese company said on Friday.

The China trip by BHP executives is a focus of interest to investors as the mining giant has been locked in a pricing battle with China's Mineral Resources Group (CMRG), the state iron ore buyer.

Hu Wangming, chairman at the world's largest steel producer by output, on Thursday met with BHP executives including CEO Mike Henry and incoming CEO Brandon Craig, Baowu said in a WeChat post.
Hu said he hoped both sides would deepen cooperation on long-term and stable iron ore supply and the transition to low-carbon metallurgy.
Craig, who will take up his new appointment as BHP CEO on July 1, said last month that he would focus on strengthening the company's relationships in China.
As the two hammer out annual supply terms, CMRG has banned its steel mills from buying several of BHP's products.
CMRG was set up in 2022 to centralise China's iron ore procurement and win better terms from miners.
Craig met with the chairman of the Chinese aluminium giant Chinalco in Beijing on Wednesday.

(Reporting by Beijing newsroom; Editing by Jan Harvey)

((Amy.Lv@thomsonreuters.com;))

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