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China expands restrictions on iron ore imports from BHP

Issued at 2026-03-11



The state buyer urged traders to refrain from purchasing new cargoes

China Mineral Resources Group, a Chinese state-owned buyer, has called on traders to refrain from purchasing new shipments from BHP Group, according to Bloomberg.

The call was made after it was discovered that traders were violating restrictions on these purchases.

CMRG and BHP have been unable to make progress in negotiations on long-term contracts for several months, which the former is conducting on behalf of Chinese factories.

In September 2025, the state buyer ordered steelmakers to stop purchasing BHP’s Jimblebar fine-grade blend and subsequently restricted purchases of all new dollar-denominated products from the company. This was followed by a ban on another grade, Jinbao.

According to Reuters, citing two sources, China Mineral Resources Group told several traders this week to buy less of BHP’s flagship products: Mac fines, Newman fines, and Newman lumps.

In February, two iron ore traders told the agency that CMRG had instructed them to obtain permission before purchasing any BHP sea cargoes. They submitted their applications and have not received a response since.

Jimblebar stocks at some major Chinese ports rose to a record 9.8 million tonnes by February 26, up 457% from the end of September, two separate trading sources said.

CMRG was established in 2022 to centralize iron ore procurement and obtain better terms from major mining companies.

Earlier, it was reported that BHP was looking for alternative buyers for ore amid a contract dispute with China. The company shipped Jimblebar ore to Malaysia and Vietnam in January 2026 and December last year.


Source: GMK Center



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