China bans BHP iron ore cargoes
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Iron ore is at risk of further losses on demand concerns and worsening mill margins in China, Commonwealth Bank of Australia said.
(Reuters) -China’s state-run iron ore buyer has told major steelmakers and traders to temporarily stop purchases of all new BHP Group cargoes, Bloomberg News reported on Tuesday, citing people familiar with the matter. Reuters could not immediately verify the report.
Japan's Nippon Steel said on Tuesday it had bought a 30% stake in Canada's Kami iron ore project, forming a joint venture with Australia's Champion Iron and Sojitz to secure high-grade ore supplies for direct reduced iron.