ANS : will we fold or fly?, page-70

Looks like Australian IO is still going to play a significant role in China's steel futures.

"Palmer bonanza as China’s CITIC nears billion-tonne iron ore deal
Brad Thompson Reporter Mar 31, 2021 – 12.24pm
A Supreme Court judgment has paved the way for giant Chinese conglomerate CITIC Limited to mine an additional 1 billion tonnes of iron ore in Western Australia through a deal with Clive Palmer.CITIC will likely develop a new mine to complement its existing magnetite and port operations on the WA coast south of Port Hedland..." source AFR