Several BHP iron ore cargoes were sold in China, easing Australian fears of a ban on exports. BHP sold a 170,000-metric-ton cargo to a local trader in dollars. CMRG offered eight BHP iron ore cargoes totaling 1.14 million tons to steelmakers. CMRG had paused purchases of BHP’s Jimblebar fines, triggering Canberra’s concerns of a ban. Trade in BHP’s Jimblebar fines remains frozen, with no sales on Thursday. Rio Tinto’s Pilbara fines could serve as a substitute. BHP CEO assured Australian Treasurer that CMRG’s decision was part of commercial negotiations, dispelling concerns.

Read more at Yahoo Finance: China’s state iron ore buyer offers BHP cargoes for sale amid ban fears