After negotiations on a long -term contract, which ended in a motionless mode, the Chinese state -owned iron ore merchant in China Urgently instructed home steel factories to suspend the purchase and use of the flagship flagships BHP 60.5 percent Fe Jimblebar Fines, which have always been their favorite Chinese steel steel steel stal Mills, according to similar sources. They say that the Chinese iron and steel association also supports this appeal.
September 18-20, Chinese steel plants first announced that they received a notification of the termination of BHP iron ore purchases in dollars, with the exception of the material that have already reached the ports. This could not bring the results in the negotiations, so this week the Chinese steel plants asked to stop all the purchases of BHP material both in US dollars and in the Chinese currency. They say that the supply of iron ore to China sharply fell by 30 percent in just one week.
in early May of this year, BHP and China did not agree with the price mechanism, since the BHP insisted at an average annual price of $ 109.5/mt, while China wanted pricing, while in the correct Applicants for quarterly foundations. The spot price for iron ore is 15 US dollars/tons lower than in the previous year.
In 2024, 60 percent of the imported iron ore of China came from Australia. The Jimblebar mine from BHP supplies 60 million tons of iron ore to China per year.
After the purchases of the fines of the BHP Jimblebar fines, China acquired more iron ore from Vail from Brazil. Moreover, in November, in November, a mine with iron ore Simanda in Guinea will send its first cargo, which is expected to deliver 120 million tons of high -class iron ore to China annually.
In addition, the share of low -class steel mills increased from 20 to 35 percent.
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