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Much has been made of China’s shunning of Australian exports. But what about iron ore? It’s hitherto been assumed that the Middle Kingdom is too reliant on Australia’s high quality iron ore for its steel-making needs and therefore would be reluctant to stop purchasing it. Australia is the top iron ore exporter and China relies on it for 60 per cent of its supply. With that in mind, Morningstar’s Peter Warnes offered a compelling counterargument this week and suggests investors in Australia’s iron ore producers may wish to trim their holdings. China’s steel production has soared in the past five years, which leads Warnes to believe it may be stockpiling.  

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