An unconfirmed blockade on key iron ore shipments has wiped more than $5 billion from mining giant BHP's value, but experts say tough talk from China's steelmakers was apolitical and nothing new.

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Beijing's state iron ore buyer has told steelmakers to pause imports of BHP ore, amid hardball negotiations over the price of the crucial resource, Bloomberg reported on Tuesday.

The news prompted a 2.5 per cent sell-off in BHP shares, wiping more than $5 billion from the world's biggest miner's $216 billion market cap.

The fe

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