Iron ore exports unaffected by Rio Tinto arrests
China’s arrest of four Rio Tinto employees, including Australian executive Stern Hu, has not dampened our exports, according to Rio Tinto and BHP Billiton, Australia’s two biggest iron ore exporters.
Much of the demand for iron ore has been fed by the Chinese government’s own stimulus package, which has encouraged a number of infrastructure projects.
Iron ore prices have risen about 15 percent in the last few months.
Industry insiders believe the real battle is not between the Australian suppliers and the Chinese steel industry but the suppliers and the government-run China Iron and Steel Association, which is looking to set the price of iron ore.
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