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Report: China Begins Releasing BHP Iron Ore Stockpiles to Steel Producers
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According to Bloomberg, citing sources, some Chinese steel producers have been permitted to purchase iron ore previously stockpiled at ports by BHP, after the miner announced it had completed negotiations on iron ore sales contracts with China Mineral Resources Group (CMRG). China Mineral Resources Group has reportedly informed certain steel mills that it will release BHP iron ore inventories, including Jimblebar fines. Steel mills are required to report transactions related to BHP to China Mineral Resources Group. According to estimates by Macquarie, around 23 million tonnes of BHP iron ore fines are currently stored across 47 ports in China, with about half comprising Jimblebar fines. (mn/j) This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. Auto-translated by AI AASTOCKS Financial News |
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