Iron ore price hits record high in Australia amid tensions with China ANI | Updated: May 20, 2021 22:53 IST
Canberra [Australia], May 20 (ANI): The price of iron ore in Australia has surged to an all-time high level and market shares in the mining companies are hitting new highs amid growing tensions with China.
The surge has raised concerns about market speculation with Chinese officials, who at the beginning of the month cut tariffs on some iron and steel inputs as a cooling measure, Nikkei Asia reported.
The souring of political ties between China and Australia, tied to issues including restrictions on Huawei Technologies, blocked investment deals and investigations into the origins of the COVID pandemic, has cast a spotlight on the iron trade.
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