Iron Ore Futures Push Higher After China Bars Cargoes From BHP

Iron ore advanced after China’s state-run iron ore buyer told major steelmakers and traders in the world’s largest importer to temporarily halt purchases of all new BHP Group cargoes.

Futures for the steel-making staple climbed by more than 1% to top $104 a ton, after Bloomberg reported that China Mineral Resources Group Co. asked domestic buyers this week to suspend purchases of any dollar-denominated cargoes from the Australian miner, according to people familiar with the matter.