China’s state-backed iron ore buyer has informed several domestic steel mills
that they are permitted to purchase some cargoes from BHP Group, marking an
apparent concession in a months-long commercial dispute.
Officials from China Mineral Resources Group Co. told mills they may resume
bidding for select BHP cargoes priced in US dollars starting Tuesday, according
to people familiar with the matter. However, mills have not yet been explicitly
authorized to take physical delivery of BHP shipments from Chinese ports, though
a formal notice is expected, the people said, requesting anonymity due to the
private nature of the matter.
