Miners back new Chinese iron ore inspection rules
In a statement BHP welcomed the changes and said they were in the works for some time.

"We’re supportive of the changes to the iron ore inspection process and believe it will create a more efficient supply chain for producers like us as well as our Chinese customers," BHP said.

"Our customers will have greater option to choose which inspection service to use for iron ore imports and whether to do it from the load port or the discharge port, potentially speeding up the process for all parties.

"China Customs has been keeping us informed of their intention to change some of the iron ore inspection process for quite some time."

Fortescue Metals Group chief executive Elizabeth Gaines also backed the changes, saying they were part of a broader suite of efficiency reform measures under development by the Chinese Government since 2015.

"We are committed to meeting the needs of our customers and follow strict, independent quality control processes to ensure the reliability and consistency of our delivered products," she said.

"The Chinese steel industry produced 234.5 million tonnes of crude steel in the March quarter, an increase of 1.2 per cent compared to the prior corresponding quarter, supporting strong ongoing demand for iron ore."

Minerals Council of Australia chief executive Tania Constable said the announcement recognised the high quality of Australia iron ore.

"As a key partner with China’s steel industry Australia supplies 60 per cent of China’s iron ore and these reforms will enhance this valued business partnership," she said.

"Post COVID-19, world demand for metals and minerals – especially industrial metals such as steel, copper and aluminium – will grow in line with the expanding needs of highly populated nations."