Iron ore price tops $200 amid further deterioration of China-Australia relations
Worker repair mechanical parts in the production workshop in Tangshan city, Hebei Province, China (Stock Image)
Iron ore prices jumped to a fresh high on Thursday after China “indefinitely” suspended all activity under a China-Australia Strategic Economic Dialogue, in the latest setback to the strained relations between Beijing and Canberra.
Benchmark 62% Fe fines imported into Northern China (CFR Qingdao) hit a new high on Thursday, changing hands for $201.88 a tonne, up 4.85% from the previous day, according to Fastmarkets MB. The high-grade Brazilian index (65% Fe fines) also advanced to a record high of $234.70 a tonne.