Australia is in an interesting position. They have one way they can inflict some really serious pain on the Chinese, by cutting off iron ore shipments, and the Chinese have no way to avoid the suffering. The problem from Australia's perspective is that it would be like choking the person who is holding your head above the water. China has the capability to drown Australia in retaliation and Australia has no way to avoid it.
So for the time being we have détente. China wants to punish Australia but is too afraid to go too far. Australia wants to retaliate but doesn't dare use the only weapon that matters.
I believe there's more risk in the situation than many posters seem to acknowledge.
Iron ore price, page-25696
Add FMG (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
$17.73 |
Change
-0.210(1.17%) |
Mkt cap ! $54.59B | |||
| Open | High | Low | Value | Volume |
| $17.86 | $18.00 | $17.67 | $106.1M | 5.956M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 3136 | $17.73 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $17.76 | 10562 | 2 |
View Market Depth
| Last trade - 16.10pm 15/11/2024 (20 minute delay) ? |
| FMG (ASX) Chart |