AUSTRALIA PM WORRIED AS CHINA PAUSES BHP – Iron ore dispute rises during price talks
Australian Prime Minister Anthony Albanese said on Wednesday (October 1) he was concerned about a report that China’s state iron ore buyer had taken steps to pause purchases of iron ore cargoes from miner BHP.
Bloomberg News, citing people familiar with the matter, reported on Tuesday (September 30) that state-owned China Mineral Resources Group (CMRG) had asked the country’s steelmakers and traders to pause purchases of BHP’s dollar-denominated seaborne iron ore cargoes during annual price negotiations.
“I am concerned about that and what we want to make sure is that markets operate properly,” Albanese told reporters. “We have seen those issues in the past. I want to see Australian iron ore to be able to be exported to China without hindrance.”
CMRG has not responded to an emailed request for comment. A BHP spokesperson said on Tuesday the company does not comment on commercial negotiations.
Albanese said he hoped the issue would be resolved quickly and acknowledged that differences could happen during price negotiations.
