Surging iron ore exports conceal weaknesses elsewhere (Chart). Iron ore aside, goods exports to China fell 40% year-over-year in Q1 (and 10% to the rest of the world). As such, iron ore accounted for 38% of Australian goods exports and 77% of goods exports to China in Q1 (up from 20% and 48% respectively two years ago).
· The increase in export of metalliferous ores to China, Australia''s largest trading partner, was once again driven by iron ore, up $2,087m (20%) to $12,666m. This is the third consecutive record export month for both iron ore and subsequently metalliferous ores, the report found.
· Iron ore exports to China are worth almost $80 billion a year, with the country taking about 30 per cent of Australia''s entire production. Watch the video above But on Thursday, Chinese customs officials confirmed that mooted changes to "streamline …
· China depends on Australia for 60% of its iron ore imports. This represents about 70 percent of Australia''s iron ore production. Beijing reports that Australia depends on China for 30% of its processed steel. However, exports to Australia account for only 1 percent of China''s production.
· China depends on Australia for 60 per cent of its iron ore imports. This represents about 70 per cent of Australia''s iron ore manufacturing. The Beijing report states Australia depends on China for 30 per cent of its processed steel. But exports to Australia symbolize simply 1 per cent of China…
· But Australia''s iron ore exports to China are facing growing pressure as Chinese companies are actively seeking to develop the massive Simandou iron ore mine in Guinea, analysts said. Beijing slapped a tariff on Australian barley products in May following Canberra''s calls for a coordinated inquiry into the origin of the coronavirus, but ...
· Despite the Australia-China ties being at an all-time low, our monthly exports to China have hit a four-year high. Much of this is being driven by Chinese demand for Australian iron ore, which in the 2019 financial year represented a $102 billion contribution to the national economy.. China is, by far, our biggest trade partner.
· This could mean bad news for Australia''s most valuable commodity – iron ore because it is closely linked to the steel sector in China given it imports 70 to 75 per cent of the world''s iron ore imports, said Mr Dhar. Iron ore is critical to Australia''s economy. Treasury predicts the value of the market will jump from $103 billion last ...
· China was the main market for Australian iron ore exports accounting for 87 per cent of all iron ore exported in 2019-20. Adding to the increase in exports in June 2020 were non-monetary gold, up $916 million or 67 per cent to $2.29 billion, and petroleum, up …
· China tries to break its Australian iron reliance. Beijing has so far refrained from imposing trade war tariffs on Australian iron ore but finding new viable sources won''t be easy. Australia is the world''s leading exporter of iron ore while China is the globe''s largest importer. Picture: Facebook.
· Trade tensions didn''t dampen China''s enthusiasm for Australian iron ore last year, new data from CBA confirms. 2020 turned into a tumultuous year with Australia''s biggest export partners, as various political disputes took centre stage in the wake of the COVID-19 pandemic.
· Australian Exports to China Drop 8% as Iron Ore Purchases Slashed. (AFR) — Exports of goods to China fell by A$1.1 billion ($872 million), or 8%, in January as Australia''s top trading partner bought less iron ore, cereals, wine and meat. The value of iron ore shipments to China in January dropped by A$471 million, or 5%, to A$9.7 billion.
· China targets Australia''s iron ore market and steel exports. It''s the one factor protecting Australia afloat. Now China''s moved to intestine the iron ore market. Beijing boasts it has slashed metal exports to Australia by greater than 50 per cent. And it insists efforts to "wean" itself from Aussie iron ore are solely simply starting.
· China relies on Australia for 60 per cent of its iron ore imports. This represents about 70 per cent of Australia''s iron ore production. The Beijing report states Australia relies on China for 30 per cent of its processed steel. But exports to Australia represent just 1 per cent of China''s output.
· China targets Australia''s iron ore market and steel exports. August 21, 2021. It''s the only thing keeping Australia afloat. Now China''s moved to gut the iron ore market. Beijing boasts it has slashed steel exports to Australia by more than 50 per cent. And it insists efforts to "wean" itself from Aussie iron ore are only just ...
· The overall value and growth in goods exported to China in recent years has been driven by exports of resource commodities, in particular metalliferous ores (mostly iron ore), and coal. In 2019-20, exports of iron ore accounted for 56% of all Australian goods exported to China and was a significant driver of the increase in exports between 2014 ...