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Australian iron ore could be the next item to feel the pinch of sour relations
Chinese industry participants are diversifying their sources of bulk commodities in an attempt to cut reliance on Australian imports, in the wake of rising trade tensions ignited by the Morrison administration’s hostile policy toward China.
Industry experts said that Australian iron ore could be the next item to get embroiled in the diplomatic spat. Australian coal exports to China have fallen sharply since last year.
On Monday, the average price of 20-millimeter third-grade rebar on the market reached 5,168 yuan ($803.93) per ton, down 87 yuan per ton from April 30, according to MySteel monitoring, amid the tightened regulations on bulk commodities and other factors.
Daily iron ore price update (slaughter) macrobusiness.com.au - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from macrobusiness.com.au Daily Mail and Mail on Sunday newspapers.