futures market has now reached a record high of 1,000 yuan. This year’s iron ore is considered to be one of the most beauties in the futures market. When it comes to iron ore, you have to mention Australia, which happens to be Australia. He is also one of the most jumping cubs in the world recently. It's just a matter of giving it a "Anti-X Pioneer" brand.
From January to October 2020, Australia-China trade in goods will be 189.665 billion Australian dollars, of which Australia’s exports to China will be 122.548 billion Australian dollars, imports from China will be 67.117 billion Australian dollars, and Australia’s trade in goods with China will have a surplus of 55.431 billion Australian dollars. In other words, if there is no China, Australia will go from a surplus country with healthy data to a deficit country in an instant, and the deficit will be larger than the current surplus.
is Australia’s “Party A’s dad”. In view of Australia’s constant affair, we have recently opened three waves to Australia. The first wave is Australian lobsters. Many tons of Australian dragons are stranded and difficult to clear customs. The second is coal, which is said to have a total value of US$500 million. About 53 Australian coal ships were trapped in the port and could not pass customs. The third wave of unlucky wine is the turn of wine. According to Reuters, the tariff will be raised from 107% to 212%. But, Australia still seems to be very tough, just like "Grandpa B" posture.
A set of meaningful data is that according to the Australian Bureau of Statistics, Australia’s foreign trade in October showed an overall growth trend. Throughout October, Australia’s total exports reached 30.532 billion U.S. dollars, an increase of 1.796 billion U.S. dollars compared to September; imports reached 25.692 billion U.S. dollars, an increase of 1.978 billion U.S. dollars compared to September.
, regardless of export or import, actually has an increase. As for where is the biggest increase? Regarding iron ore, in October alone, Australian iron ore exports increased by 37% compared to the same period last year, and iron ore export revenue increased by US$3.604 billion in a single month. Among them, the iron ore exported to China reached 80% of Australia’s total iron ore exports in October, thus creating a new high in a single month. It seems that China has taken a knife against Australia's trade products, but in reality it has not moved any vital parts. Before finding an alternative to Australia, China may not dare to easily move this vital part.
In the past two years, Australia’s exports to China, iron ore accounted for nearly half, while red wine, barley, etc. only accounted for the corner tofu, especially iron ore. China’s iron ore imports accounted for 62.2% of the world’s total imports. , And Australia’s iron ore exports accounted for 50% of total exports. This also means that if China does not buy Australian iron ore, then the world's iron ore will not be enough for China.
Although China's own iron ore reserves are not small, the iron content is low and the steelmaking pollution is high, which is not cost-effective. Brazil, the second largest exporter, has a high iron content, but the shipping distance is three times that from Australia to China. The freight difference alone accounts for about 5% of the domestic iron ore price, and the transportation time is almost a month longer.
Take coal as an example. Although China's imports account for only one-fifth of Australia's exports, the embargo has caused the price of Australian coking coal to fall below the off-season price, and upstream coal mine owners are miserable. Instead, China and Indonesia signed a three-year coal supply agreement last month. If China sells iron ore, which accounts for four-fifths of Australia’s exports, although China will also face high iron ore prices, Australia may have to bear the consequences of the paralysis of the entire iron ore industry, which can be described as a big killer.
Therefore, although China is the father of Party A in total, in some sub-items, China and Australia also have a state of "necking each other". Compared with the statement that China completely dominates trade with Australia, the more precise expression is that the economies of China and Australia are highly complementary. You sell me iron ore, I sell you electromechanical, we all have a bright future.
