Chinese steel production has faced strong headwinds since late July, when authorities stepped up their plans to curb steel output. Iron ore prices, in turn, have started to fall. Photo: Reuters
Australian miner Fortescue hits record profits as China craves iron ore
  • Since prices hit an all-time high of more than US$230 a tonne in May, prices for the steelmaking ingredient have fallen with Chinese authorities curbing output
  • Beijing blocked several goods amid its protracted geopolitical conflict with Canberra, but iron ore shipments are still welcomed with open arms
31 Aug 2021 - 5:25AM