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Iron ore price: China’s plan to punish Australia through Brazil – NEWS.com.au
Iron ore price: China’s plan to punish Australia through Brazil
China might have shunned Australian lobster and wine, but theres one commodity it just cant go without: iron ore.The last 12 months has seen the country more dependant on Australia’s biggest export than ever before thanks to an increase in Chinese steel production, as well as disruptions to Indian and Brazilian iron ore supply.
Australian iron ore is now worth more than $US210 per tonne compared to just $US60 this time last year.
But the current boom in Aussie iron ore exports to China could be…
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