BHP Group redirects iron ore exports as China purchasing ban triggers massive inventory surge
BHP Group is redirecting iron ore to Malaysia and Vietnam as a Chinese ban on Jimblebar Blend Fines causes a 360 percent inventory spike at Chinese ports.
洞察:
BHP Group Limited is redirecting shipments of Iron Ore to Malaysia 
MYand Vietnam 
VN after a purchasing ban by the China Mineral Resources Group (CMRG) left millions of tons of product stranded. The ban, implemented in September 2025, prohibited steel mills and traders in China 
CN from purchasing Jimblebar Blend Fines (JMBF). This restriction has led to a 360 percent surge in inventory levels at major Chinese ports, as steelmakers are not allowed to take delivery of JMBF cargoes already at the docks.
MYand Vietnam VN after a purchasing ban by the China Mineral Resources Group (CMRG) left millions of tons of product stranded. The ban, implemented in September 2025, prohibited steel mills and traders in China CN from purchasing Jimblebar Blend Fines (JMBF). This restriction has led to a 360 percent surge in inventory levels at major Chinese ports, as steelmakers are not allowed to take delivery of JMBF cargoes already at the docks.Stocks of the specific medium-grade product grew from late September 2025 to reach 8.1 million tons as of January 13, 2026. The operational impact of the ban is reflected in shipping data, which shows that daily global exports of JMBF from Australia 
AUhave fallen by 74 percent as of January 2026 when compared to the same period in 2025. This downturn has forced BHP Group Limitedto find new buyers outside its traditional major market to move its production volume, which exceeds 60 million tons of JMBF annually.
AUhave fallen by 74 percent as of January 2026 when compared to the same period in 2025. This downturn has forced BHP Group Limitedto find new buyers outside its traditional major market to move its production volume, which exceeds 60 million tons of JMBF annually.
