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    December 9, 2020

    As China-Australia Ties Worsen, Iron Ore Remains Bulletproof

    Commodities, Iron Ore, Metal Prices, Steel Industry Australia, China

    By Michael Heath | Bloomberg

    As China-Australia relations descend into a morass of sanctions and mutual recriminations, Beijing is delivering a huge cash windfall to Canberra and Australia’s economy through its insatiable demand for iron ore.

    China has few alternatives as it seeks to stimulate its economy post Covid-19 through infrastructure investment, with Australia accounting for more than half of iron ore shipments globally. If Beijing were to try to purchase solely from non-Australian producers, at best it could get 56% of the volumes it typically imports, according to analysis by Goldman Sachs Group Inc…Full Story

    $500 million of coal on anchored ships off China’s coast China’s coal-price indices stop revealing surging prices as demand soars and inventories ‘fall below warning line’

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