Post by
GregL80 on Sep 01, 2020 10:06am
China stepping up search for alternatives to Australia
https://www.tsxvresearch.com/china-iron-ore-alt-penny-stocks/
Some may argue this is because of reducing demand, however this is not the case as their imports from other sources has increased. Per data from Indias Department of Commerce, its exports of ore to China in July surged 53.18 percent year-on-year. Also, China imported 17.7 million tons of iron ore from Brazil in July, more than double the 7.7 million recorded in the previous month, Reuters reported. With COVID-19 coming under control, China has been speeding up its economic recovery and there is increasing demand for resources and raw materials. This is not a minor event. China and India are not typically friendly, and have had military encounters in the past leading to conflict. In fact there is an on-going situation between the two countries right now. Surely if theyre importing from a country theyre having a military face-off with then they must be very serious about finding alternatives to Australia.
Comment by
GregL80 on Sep 01, 2020 10:07am
sorry about formatting. Not a very user friendly layout.
Comment by
IvanGubinski on Sep 01, 2020 1:45pm
those chinese wish to trick people to increase their capacity until the market is overflooded. They are not very nice people. No need to buckel down under their pressure.
Comment by
GregL80 on Sep 01, 2020 4:09pm
sure but that doesn't explain why their imports are increasing from alternate suppliers and dropping from Australia. Seeing that they import 60% from Australia, it would only make sense to increase imports from all sources. I think they're very serious about moving away from Australia. Shymanivske could easily be a piece to their overall supply...