China are net importers of almost every commodity (certainly food, IO and fuel).You can scare some investors from going long , but you can’t change the supply/demand of the physical iron ore. All you’re doing is reducing the incentive to increase production which suits current suppliers like BHP, RIO, FMG, Vale down to the ground.
They will halt prices for a while then they'll simply rise again to possibly higher levels, especially in the current high demand steel market.
Iron ore price, page-32159
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