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China allows mills to consume banned BHP's Jimblebar fines for a w-Die Casting Exhibition-Foundry Exhibition-The 26th China(Guangzhou) International Die casting Foundry & Industrial Furnace Exhibition
3/17/2026 压铸展-铸造展- Die-casting expo-foundry expo |
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Chinese state-owned iron ore trading arm China Mineral Resources Group (CMRG) said on Friday, March 13,that Chinese steel mills may use BHP''s Jimblebar fines that are in Chinese port stocks a week, that werebanned from being consumed and arriving in China since September last year. Traders are still not allowed totrade Jimblebar fines
This move has come just after CMRG widened restrictions on BHP brands, as announced last Thursday,banning usage of Newman fines from the end of this week.
As a result, at the moment, Chinese steel producers are trying to transport as much BHP fines as possible totheir assets, expecting the fight between CMRG and BHP to continue over long-term contract prices.
For now, a week-long easing of restrictions on Jimblebar fines has resulted in stabilization of iron ore spot pricesand some cooling down of the market mood. For instance, the spot price of iron ore with 62 percent Fe is stableat $110/mt CFR, according to SteelOrbis, in line with Friday, but this price is still $4/mt higher week on week andas much as $8.45/mt above the late February level Iron ore futures at Dalian Commodity Exchange havesoftened slightly by 0.74 percent to RMB 809/mt ($117.2/mt) today, March 16.
Afew steel mils have commented to SteelOrbis that they do not expect any big iron ore price drop soon due tothe lack of any big improvement in supply in the coming months, especially for iron ore with 62 percent Fecontent, with more BHP iron ore brands frozen at ports
压铸展-铸造展-2026第二十六届广州国际压铸、铸造及工业炉展览会-Die Casting Exhibition-Foundry Exhibition-The 26th China(Guangzhou) International Die casting Foundry & Industrial Furnace Exhibition
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