China eases ban on BHP iron ore as steel mills rush to buy
Alfred Cang
Updated
China’s state-backed iron ore trader has told steel mills that it’s temporarily easing restrictions on one of BHP Group’s grades, after worries over a broadening of bans against the mining giant sent prices rising this week.
China Mineral Resources Group Co is allowing some steel makers in the country to pick up their cargoes of BHP’s Jimblebar iron ore that have been building up in ports since the firm imposed a ban on purchases, trading and use of the grade last year, people with knowledge of the matter said, asking not to be named as the information is not public.