London Commodity Brokers Ltd.
    • Home
    • About Us
    • Commodity News
    • Price Information
    Privacy & Cookies: This site uses cookies. By continuing to use this website, you agree to their use.
    To find out more, including how to control cookies, see here: Cookie Policy
    May 14, 2020

    Why China needs Australian iron ore

    Commodities, Iron Ore Australia, China

    By Elouise Fowler | Austrlian Financial Review

    Analysts have shot down Beijing’s threat that China will replace its massive Australian iron ore imports with Brazilian ore, as China opens up another front in the fledgling Australia-China trade war.

    State-controlled media The Global Times warned China could abandon Australian iron ore as it prepares to slap restrictions on Australian beef and barley after Beijing accused Australia of flouting world trade rules.

    The accusation from Australia’s largest trading partner follows Prime Minister Scott Morrison’s calls for an international inquiry into the handling of COVID-19.

    But one major obstacle undermines China’s threat to replace Australian iron ore with Brazilian: there simply isn’t enough of the core commodity used to make steel to meet China’s demand.

    “The market is very tight, everyone is running as hard as they can … you couldn’t find a spare tonne elsewhere in the market,” UBS analyst Glyn Lawcock said…Full Story

    India’s low-grade iron ore key in export demand spurt Iron ore defies coronavirus gloom with bullish supply, demand narrative

    Related Posts

    Commodities, Power Markets, Specialist Markets

    Oil vs Water — Confessions of a carbon emitter

    From ABC (Australian Broadcasting Corporation) Having just returned from visiting nearly 50 countries in four months, Dr Forrest says he’s seen a paradigm shift in global thinking. Sovereign leaders, business people, politicians, financiers and technology developers have developed a “genuine thirst” for a rapid shift to green energy. He argues Australia is perfectly placed to […]

    Coal, Commodities, Power Markets

    China mulls lifting coal ban as Aussie trade war backfires big

    By David Llewellyn-Smith | Macrobusiness Increasing noise on possible policy reversal: Shanghai Metals Market (SMM) reported yesterday that the Chinese government was in the preliminary stages of lifting its informal ban on Australian coal imports, but that such a move would still need to be approved by senior leaders. There has been no official comment on the […]

    Coal, Commodities, Power Markets

    China’s ban on Australian coal drives diversification, but can it fill the gap?

    By Su-Lin Tan | South China Morning Post In December, South Africa dispatched fresh shipments of thermal coal to China for the first time since 2014, with word in the industry that more was on the way. A month earlier, Chinese buyers also snapped up coal from Colombia, which has never been a big seller […]

    London Commodity Brokers Ltd.
    © London Commodity Brokers Ltd.