Iron ore prices surpassed US$200 a tonne this week, setting an all-time high. Photo: Reuters
China-Australia relations: iron ore prices hit record as market mulls Beijing’s next move
- A fundamental demand for steel in China, coupled with worsening bilateral tensions, has pushed the price of iron ore beyond US$200 a tonne for the first time in 14 years
- It remains to be seen whether there will be commercial moves to counter political risks in the near term, such as upswings in iron ore shipments from Australia
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Iron ore prices surpassed US$200 a tonne this week, setting an all-time high. Photo: Reuters