Yesterday, I wrote about some friction between China and BHP on iron ore prices but officials passed off the sparing between the Chinese Premier and the CEO of BHP as friendly banter.
Today, it’s there was a serious side to the complaint
Wang Jiahua, executive vice-president of China Mining Association told a Melbourne Mining Club luncheon yesterday that there was a mismatch between the (strong) profits of Australia’s iron ore producers and the losses being posted by their Chinese customer base.
Unfortunately, for China, I don’t think those profits are going to last. The Australian has more (click the first link to avoid the paywall).
