Via the AFR comes a huge laugh out loud:
China has changed its inspection procedures for iron imports under new rules that analysts say could be used to block Australia’s most important export, as trade tensions between the two countries escalate.
China’s Customs authorities said in a notice the new supervising rules, which take effect on June 1, mean customs officials would inspect iron ore at the request of the trader or importer.
Bring it on. If they want to drive the price to $500 per tonne then let ’em!
We can buy a US cruise missile capability with the dough and point it at Beijing!
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.
- Westpac: COVID has changed the labour market - January 22, 2021
- China mulls lifting coal ban as Aussie trade war backfires big - January 22, 2021
- Daily iron ore price update (demand surge) - January 22, 2021
YOU MAY ALSO BE INTERESTED IN
China mulls lifting coal ban as Aussie trade war backfires big
Via Morgan Stanley: Increasing noise on
Daily iron ore price update (demand surge)
Iron ore prices for January 21, 2021: Spot
Why is Twiggy risking life and limb flying around with COVID?
Don't listen to what they say, watch what they
Pfizer vaccine "likely" works on COVID mutant
So says Bloomie: Pfizer Inc. and BioNTech SE
🙂
Even better, we can use it to offset the loss of Chinese students and use it to fund the education and re-skilling of our own population
Tha’ll never happen. It makes too much sense!
Won’t have to wait long for Twiggs media appearances complete with tears.
Lol.
He won’t be happy with his antics, kowtowing and efforts if his IO will not be an exception…..
Twiggy may have to go onto jobkeeper!
LOL. Wonder if that’s enough to run a Global Express?
until any iron ore is blocked its just chynese BS
Agreed. I’m struggling to think of many (any) situations where they’ve actually carried out their threats – and stuck to it resolutely.
With Twiggs kowtowing to them in the background I’m sure it’ll be okay.
+1
It’s an empty threat. If they were going to block imports – or alternatively have them “delayed” – they would just do it.
There’s a small possibility they delay one or two boats, but they’re not dumb enough to cut themselves off when they can’t source sufficient volume from anywhere else.
Yep let them pay obscene spot prices for it, we should use that iron ore and start up steel mills again. They’re heavily subsidized and dumping of steel on markets drove out local ones out of business. Precisely the sort of crap they’re trying to pin on us with the barley claim. Ridiculous.
+1
Goody – lots of steel to build empty cities ourselves for all the people we suddenly don’t have.
Stop the shipments… period and wear the horrible pain now or get used to bending over forever. The chinese are small minded hypocrites who only know win – loose. Ask anyone doing business with China. Australian’s have fought forever for independence and we are better than just hole diggers!
I disagree…. ‘The chinese are small minded hypocrites’…the CCP are pure evil!
I suddenly appreciate what Trump has been doing to China all this time. Screw the CCP.
I don’t agree with many things he does but on the trade side he is right 100%. He puts US manufacturing ahead of anyone else’s.
this message could also be heralding China is planning to stop building empty cities and will get smarter with how they spend next stimulus.
this plus other actions make me think China has assessed Oz needs them more than vice versa
and they are right, just an economic zone
It has never been clearer we need to pivot. US needs our beef and going forward I suspect will need fiscal ie infrastructure which will need steel. simplistic yes but it needs to happen. whether our idiots have the balls to do it …
if the pollies were really on top they would be trying to progress deals with say US to take up some of the pain and for eg buy Aussie
Australia sells food and iron ore, the US sells military equipment in return.
Why was my comment removed?
China: [holds gun to its head] Do what we want or the idiot gets it!
Comrade Twiggys loyalty bonus….
I’m surprised how they appear to be sabotaging themselves….negative sentiment continues to grow…..that is not in their interest…
maybe it is.
there could be a very good reason they are doing these things.
I dont understand why this should result in the price of the ore we sell going up. Would it not just mean the ore they reject from us goes to try and find other buyers elsewhere. It may not add to the amount of ore available for sale but it wont reduce it either. Why would the price of ore go up.
All I need now is a story on banning Australia as a destination for tourists and students for a hat trick of good policy in one day.
They really know how to get things done!
Perhaps we should put them in charge?
https://youtu.be/5tQXrw1-hPc
This corona fella really has some good policies. He’s not all good but he’s getting things done.
Tear up CHAFTA.
Iron ore is safe. That is what is needed for war.
If they really want to hurt this so-called economy they should target students and tourism.
Nah. Thats how they get the spies into the country. Also required for war.