BHP Group announced it has sealed a supply agreement with China’s state‑backed iron ore buyer, bringing an months‑long standoff to a close. The dispute had seen BHP impose product restrictions that rattled global iron‑ore prices and sparked uncertainty among traders. The pact secures around 30 million tonnes each year, restoring the flow of shipments to one of the world’s biggest consumers.

Negotiations stretched over several months as both sides pressed for pricing terms and cargo allocations. The buyer, linked to China’s strategic mineral procurement program, sought assurances on volume and price stability, while BHP aimed to protect margins after earlier curbs trimmed its earnings. Both parties also discussed logistics optimisation, and the accord reportedly includes a multi‑year framework, though financial details remain private.

Market participants welcomed the resolution, noting that uninterrupted supply eases pressure on spot prices that had surged during the impasse. Analysts expect the agreement to reinforce BHP Group’s position as a reliable source for Chinese steelmakers, supporting its revenue outlook. Price volatility should ease in the near term, underscoring how geopolitical frictions quickly translate into commercial risk in the commodities arena.