Business
China rumblings fuel fears for Australia’s most crucial export – NEWS.com.au
China rumblings fuel fears for Australia’s most crucial export
There are mounting concerns iron ore could become the next battleground between China and Australia amid rising trade tensions, especially as the price of the steel making commodity keeps surging.The iron ore price has been strong this year as high demand from the Asian superpower combined with supply disruptions, with the world’s biggest producer, Brazil’s Vale, last week lowering its production forecasts.
The price is at its best levels in years, about $US160 per tonne.
The China Iron and Steel…
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