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BHP Group Limited (NYSE:BHP) has resumed iron ore sales into China, quelling speculation that Beijing had restricted purchases from the world's top producer.
According to Reuters, the move followed reports of several cargoes being offered to buyers after China's week-long national holiday.
Market sources reported that a 170,000-metric-ton shipment was sold to a Chinese trading house on Thursday, with payment made in U.S. dollars.
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Last week, The Guardian reported China's state-run buyer reportedly told steel mills to stop purchasing BHP iron ore as part of a push to force down prices.
Even if resolved quickly, the episode was seen as a warning sign of potentially larger economic shocks to come.
However, the latest development marked the first confirmed trade after recent uncertainty surrounding BHP's access to Chinese buyers.
The Shanghai office of China Mineral Resources Group (CMRG), established in 2022 to consolidate Beijing's iron ore procurement, listed eight BHP cargoes totaling about 1.14 million tons for sale to domestic steelmakers, according to Reuters.
The offers were posted the same day, indicating that trade activity between the Australian miner and Chinese buyers remains ongoing despite earlier friction.
That decision sparked political unease in Canberra, which feared a replay of China's earlier restrictions on coal and other commodities during 2020.
The timeline and volume of CMRG's recent purchases from BHP are still undisclosed.
Traders described Jimblebar as a smaller but actively traded grade, contributing around 40 million tons annually—too limited to influence global iron ore prices.
In discussions with Australian Treasurer Jim Chalmers, BHP CEO Mike Henry reportedly downplayed fears of a Chinese ban, characterizing the negotiations as part of standard commercial processes.
BHP Price Action: BHP Group shares were down 1.12% at $55.41 at the time of publication on Friday, according to Benzinga Pro data.
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Photo by T. Schneider via Shutterstock
