RE:RE:RE:China stepping up search for alternatives to AustraliaThe closest major source of iron ore is Australia. It makes sense for the steel mills in China to buy from the Aussies. When I lived in China, there is funny mindset among the folks in China. They think the Aussies intensionally to lift the iron ore price to hurt them. Obviously, you got to punch back when another man punch you. And to win a bit more say in the pricing process, the Chinese try to control the Aussie market. There is one problem with Austrialia is that it is too isolated.
If you have coal in Austrialia in Ukraine, South Africa and Australia , then a client in maybe Germany. The German dude is going to pick Ukraine to save shipping cost. The only market Aussie are close to is China , Japan, and Korea ,then maybe the Americans. China is always their number one export destinatoin. If China want to be mean, they have do a lot of things to hurt aussies.