BHP Stock Price Drops as China Widens Iron Ore Ban in Fresh Contract Blow
BHP’s New York shares fell 3.5% after sources said China expanded its ban to include Newman fines, a key BHP iron ore product. Singapore iron ore futures surged over 4% to $108.95. The dispute affects annual supply talks covering a fifth of China’s iron ore needs. BHP has already accepted lower prices and shipped unusual cargoes to Malaysia and Vietnam as talks drag on.