Should the Shenzhen-based corporate giant sink, so would Chinese demand for Australian iron ore, with big miners and the share market plunging on Monday. But a cutback in Chinese steel production saw iron ore prices fall by 21 per cent in August. 'China more broadly is looking to curb their steel production - a big part of it is due to environmental reasons,' he told Daily Mail Australia. The Chinese Evergrande Group has no connection whatsoever with a Melbourne-based company of the same name, Evergrande Properties Pty Ltd which is also known as Evergrande Group. Those Australian Bureau of Statistics figures, released on September 2, predated the plunge in iron ore prices.

Source: The Nation September 20, 2021 06:00 UTC