‘No chance’: China’s empty threat to harm Australia by stepping up domestic iron ore mining – NEWS.com.au

Despite everything thats transpired between Australia and China in the past year, Beijing has somehow ended up giving our economy a massive boost.Australia’s biggest export iron ore — 60 per cent of which goes directly to China to be used in steel production — has skyrocketed in value.
This time last year it was worth about $US60 per tonne. Now, the same amount is worth over $US210.
Analysts say this due to a spike in infrastructure-driven Chinese steel production and disruptions to Brazilian and…

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