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>keep more of the profit in Australia It really wouldn't. China has decided to turn an absolutely massive amount of iron ore into steel for non-economic reason
by ThrustVectoring 4y ago
>keep more of the profit in Australia
It really wouldn't. China has decided to turn an absolutely massive amount of iron ore into steel for non-economic reasons, which means that the profits to be made are largely in supplying them with raw materials.
- TheHappyOddish 4y agoThis is very accurate. I used to work with a steel distributor, and it's not just cheaper to ship to China, refine and ship back, it's significantly cheaper than refining on shore.