China Urges Traders to Avoid New BHP Iron Ore Purchases

China's state-backed iron ore buyer has called on traders to stop purchasing new cargoes from BHP Group for resale within the country. Bloomberg posted on X, highlighting the move as part of China's efforts to regulate the iron ore market. This action reflects China's ongoing strategy to manage commodity prices and stabilize its domestic market. The directive comes amid fluctuating global iron ore prices and China's attempts to exert greater control over its supply chain. Traders have been advised to comply with the request to ensure market stability.