Iron Ore Slides After Incoming BHP Chief Sighted in Beijing

Iron ore slid to its lowest in a month after a report that BHP Group’s incoming chief executive officer had met with Chinese executives in Beijing this week, a possible sign that frosty relations between the mining giant and its main customer are thawing.

BHP and China’s state-backed iron ore buyer have been locked in a dispute over pricing for months. A resolution to that quarrel could see restrictions on BHP cargoes lifted, expanding supply of the key steelmaking material including ore currently tied up at ports.