China Halts All New BHP Iron Ore Cargoes As Traders Brief Goldman On Situation | Metals Mine

  • China Halts All New BHP Iron Ore Cargoes As Traders Brief Goldman On Situation

    From zerohedge.com

    Bloomberg reports that China Mineral Resources Group has temporarily halted purchases of all dollar-denominated seaborne iron ore cargoes from BHP Group vessels. The trade suspension follows failed talks between CMRG (the world's largest iron ore buyer) and BHP (the world's largest listed miner) and builds on earlier restrictions targeting BHP's Jimblebar blend fines. CMRG has now barred mills from taking Jimblebar cargoes at ports or purchasing them in the yuan spot market, forcing some steelmakers to source ore elsewhere. "Would China have done this a decade ago, when it heavily depended on imports? No way," ... (full story)

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    From prnewswire.com|Oct 1, 2025|16 comments

    Economic activity in the manufacturing sector contracted in September for the seventh consecutive month, following a two-month expansion preceded by 26 straight months of contraction, say the nation's supply executives in the latest ISM® Manufacturing PMI® Report. The report was issued today by Susan Spence, MBA, Chair of the Institute for Supply Management® (ISM®) Manufacturing Business Survey Committee. "The Manufacturing PMI® registered 49.1 percent in September, a 0.4-percentage point increase compared to the reading of 48.7 percent recorded in August. The overall economy continued in expansion for the 65th month after one month of contraction in April 2020. (A Manufacturing PMI® above 42.3 percent, over a period of time, generally indicates an expansion of the overall economy.) The New Orders Index contracted in September following one month of growth; the figure of 48.9 percent is 2.5 percentage points lower than the 51.4 percent recorded in August. The September reading of the Production Index (51 percent) is 3.2 percentage points higher than August's figure of 47.8 percent. The Prices Index remained in expansion (or 'increasing' territory), registering 61.9 percent, down 1.8 percentage points compared to the reading of 63.7 percent reported in August. The Backlog of Orders Index registered 46.2 percent, up 1.5 percentage points compared to the 44.7 percent recorded in August. The Employment Index registered 45.3 percent, up 1.5 percentage points from August's figure of 43.8 percent. ISM Mfg 49.1, Exp. 49.0, Last 48.7 Prices Paid 61.9, Exp. 62.7, Last 63.7 New Orders 48.9, Exp. 50.0, Last 51.4 Employment 45.3, Exp. 44.3, Last 43.8

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