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