Bhp

The directive was made this week by China Mineral Resources Group Co. [CMRG] to halt buying BHP’s Jingbao fines, a low-grade ore, said people with knowledge of the order, asking not to be named discussing private matters. The ban applies to seaborne cargoes and inventories at Chinese ports, they said. It follows a move by CMRG in September to stop Chinese steel mills buying BHP’s Jimblebar blend fines after talks on long-term contracts faltered. […] BHP declined to comment on commercial matters. […] BHP has previously said there’s been minimal disruption to its shipments from CMRG’s curbs so far, but traders expect the impact to become more apparent when the miner begins marketing cargoes for January delivery. The company has sold ore in private tenders to a small group of international and Chinese traders. CMRG is maintaining its pressure on BHP. In late September, the Chinese trader asked buyers to halt all dollar-denominated seaborne purchases, and mills now require CMRG approval to source BHP ore from ports, the people said.