Unlikely.
80% of all seaborne IO is from the Pilbara (RIO, VALE, BHP & FMG all operate here)... why?
Because the dirt is so rich in ore it can go straight into a mil furnance making the product >20% cheaper than any alternative.
IO is required component for any building/steel infrastructure.
China has no alternative in terms of volume, quality, and costs.
Iron ore price, page-24784
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