China Expands Ban on BHP Iron Ore Amid Contract Dispute
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Mar 12 2026
0mins
Should l Buy BHP?
Source: seekingalpha
- Ban Expansion: China has widened its ban on BHP iron ore for the second time in two weeks, prohibiting domestic steel mills and traders from taking delivery of Newman fines starting late next week, indicating an escalation in the contract dispute with this major supplier.
- Gradual Tightening: Over the past six months, China has gradually tightened restrictions on purchasing BHP iron ore, particularly during negotiations for the 2026 supply contract, reflecting the government's intent to control iron ore imports.
- Price Fluctuations: In response to the ban, benchmark April iron ore prices on the Singapore Exchange rose by over 4% to $108.95, reaching the highest level since January, indicating market expectations of supply tightness.
- Market Impact: The ban on BHP iron ore may lead to increased production costs for domestic steelmakers, potentially affecting the overall supply-demand balance in the steel market, especially amid ongoing uncertainties in global steel demand.
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Analyst Views on BHP
Wall Street analysts forecast BHP stock price to fall
3 Analyst Rating
1 Buy
1 Hold
1 Sell
Hold
Current: 69.500
Low
49.50
Averages
56.50
High
68.00
Current: 69.500
Low
49.50
Averages
56.50
High
68.00
About BHP
BHP Group Limited is an Australia-based resources company. The Company is a producer of commodities, including iron ore, copper, nickel, potash and metallurgical (steelmaking) coal. It is focused on offering a range of resources, which provides copper for renewable energy; nickel for electric vehicles; potash for sustainable farming, and iron ore and metallurgical coal for the steel needed for global infrastructure and the energy transition. Its segments include Copper, Iron Ore, and Coal. Its Copper segment is engaged in mining of copper, silver, zinc, molybdenum, uranium, and gold. Its Iron Ore segment is engaged in mining of iron ore. Its Coal segment is engaged in mining of metallurgical coal and energy coal. The Company is also focused on operating Olympic Dam, Prominent Hill, and Carrapateena underground copper-gold mines in South Australia. Its operations are situated in Australia, Europe, China, Japan, India, South Korea, rest of Asia, North America, South America, and others.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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