Business
Why Beijing’s ‘Made in China’ iron ore strategy is an empty threat – The Australian Financial Review
China has told its companies to produce more domestic iron ore as commodity prices hit record highs, but analysts say this will not reduce its reliance on Australian…
Australia supplies 60 per cent of Chinas iron ore.
Chinas state planner, the National Development and Reform Commission (NDRC), said on Tuesday it would encourage companies to boost domestic exploration for iron ore, increase production, widen their sources of imports and explore overseas ore resources.
The policy statement was not surprising given China is under immense pressure to deal with iron ore prices, which have surged from about $US80 per tonne in April last year to a record $US233.10 a…
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