A contract dispute between China Mineral Resources Group (CMRG) and Australia's Fortescue has led to new shipping restrictions in Chinese ports.

The Chinese state-owned buyer ordered domestic steelmakers and traders to take delivery of Fortescue’s Super Special Fines and Fortune Fines by July 15. After this deadline, the state firm will blacklist those products and limit their movement. The strict measures emerged after long-term supply agreement negotiations between the two sides stalled.

This friction delayed some upcoming iron ore shipments, causing market panic over potential shortages and boosting prices. This situation mirrors a previous multi-month dispute with BHP Group, where Beijing lifted similar procurement caps only after BHP finalized its deal in April.