China imports about 60 per cent of its iron ore from Australia. Photo: AFP
China-Australia relations: Australian miners not to blame for soaring iron ore prices, observers say
- China Iron & Steel Association says ‘market pricing mechanism has failed’ after commodity price hits record US$158 per tonne on Thursday
- ‘Prices have soared in recent weeks in response to a significant fall in iron ore arrivals at Chinese ports,’ commodities analyst says
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China imports about 60 per cent of its iron ore from Australia. Photo: AFP