State-owned rail operator Transnet is plagued by lack of capacity, exacerbated by maintenance backlogs and vandalism.

Concern about the reliability of LME prices has led some producers and consumers to try and find alternatives.

BHP flagged a brightening demand outlook in the top steel producer country.

Antofagasta declared a final dividend of 50.5 cents per share for investors.

Miners have wrestled with surging costs and a tight labour market amid sharply lower iron ore prices over the latter half of 2022, as China's strict zero-covid-19 policy curtailed economic activity.

Baowu is looking to benefit from efforts to repair trade relations between China and Australia.