DBT Bureau
Bengaluru, 1 October 2025
China has ordered its steelmakers and traders to suspend purchases of dollar-denominated seaborne iron ore from Australian miner, BHP over pricing dispute, a report by Bloomberg said.
According to the news report, the directive came from China Mineral Resources Group (CMRG) blocks, which has asked to halt all new contracts, even for cargoes already en route from Australia. China Mineral Resources Group is the state-run buyer, which has been created in 2020 to give Beijing an upper hand in iron ore price negotiation and purchase.
China is the largest buyer of iron ore globally. BHP, which is the world’s largest mining company, is the third-biggest iron ore supplier to the country after Rio Tinto and Vale.
