China's state iron ore buyer has told major steelmakers and traders to temporarily pause purchases of any dollar-denominated seaborne iron ore cargoes from BHP, according to Bloomberg News reports citing people familiar with the matter.

China is the world's largest iron ore consumer and buys about 75 per cent of global seaborne iron ore, while BHP is the world's largest listed miner.

State-owned iron ore buyer China Mineral Resources Group (CMRG) was established in 2022 as part of Beijing's efforts to bolster its pricing power in iron ore.

Last month, BHP said its annual profit fell to the lowest in five years as sluggish demand from China weighed on iron ore prices and flagged a cut in capital and exploration spending.

Earlier this month, Bloomberg reported that CMRG had urged the cou

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