BHP stock price faces a two-front test: China iron ore ban and Chile copper roadblocks
BHP Group Ltd shares enter the week with fresh scrutiny on their China iron ore sales after Reuters revealed the miner diverted Jimblebar Blend Fines — a mid-grade iron ore product — to Malaysia and Vietnam. The shipments came after China Mineral Resources Group, created in 2022 to coordinate iron ore purchases, instructed mills and traders last September not to buy Jimblebar during 2026 contract talks. Reuters pointed to a 95,000-ton cargo unloaded in Malaysia on Jan. 14 and a 75,000-ton shipment to Vietnam in December. Meanwhile, port stocks climbed sharply to 8.1 million tons by Jan. 13, a 360% spike since late September. BHP’s shares ended up 0.7% on the ASX at A$48.43, with its U.S.-listed stock rising roughly 3.9% to $67.52 and London shares up 2.1% to 2,465 pence.
