Beijing options limited to Australian iron ore

Original article by Elouise Fowler
The Australian Financial Review – Page: 7 : 15-May-20

China imported 62 per cent of its iron ore from Australia in 2019, compared to only 21 per cent from Brazil. However, a report in a state-owned Chinese newspaper has raised the possibility that China could replace iron ore from Australia with iron ore from Brazil as part of the growing trade tensions. However, Glyn Lawcock of UBS notes that the global iron ore market is very tight at the moment. Fortescue Metals Group CEO Elizabeth Gaines expects Chinese demand for Australian iron ore to continue to rise.

CORPORATES
UBS HOLDINGS PTY LTD, FORTESCUE METALS GROUP LIMITED – ASX FMG

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