China Clears BHP Iron Ore Port Stockpiles After Deal Struck

Some Chinese steelmakers have been cleared to collect and trade iron ore from BHP Group that had accumulated at ports before the country’s state-backed buyer resolved contentious negotiations with the miner.

China Mineral Resources Group Co. has informed some mills that inventories of BHP ore, including Jimblebar Blend Fines, would be released, according to two people familiar with the development, who asked not to be named discussing sensitive matters. Steel mills are required to report their transactions relating to the ore to CMRG, one of the people said.