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China won't keep 'handing its money over' for iron ore

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Business commentator Terry McCrann says China will not keep "handing" its money over to buy Australian iron ore amid its search for resources in other countries.

a boat sitting next to a body of water

Mr. McCrann said while China is currently “buying our own ore at ridiculously high prices”, it is “desperately trying to find alternative supplies”.

“China is not going to keep just handing this money over, and at the same time we’re engaging in a verbal war,” Mr. McCrann told Sky News host Peta Credlin.

“If they want to build steel, they’re going to have to buy our iron ore into the future.

“But they’re not going to do it enthusiastically and they’re not going to do it just paying these ridiculous prices right through the 2020s.”

2 Comments

  • Suvir

    Suvir

    10:44 AM, 16-07-2021

    The verbal and economic war continues

    0 Reply
  • Pich

    Pich

    1:19 AM, 15-07-2021

    What's the place?

    0 Reply
    • Ray Cooney

      1:47 AM, 16-07-2021

      That is one of the ports in Western Australia where the iron from the mines is transported to ships to take to other parts of the world

    • David Jackson

      5:22 PM, 15-07-2021

      Now that a very interesting 😎 question!!

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