From the article posted by you I found this interesting if...

From the article posted by you I found this interesting if somewhat disturbing given that iron ore represents 39% of Australia's exports.

Just another variable to be included in the why isn't FMG SP $50.00

University of WA PhD candidate Nathan Watson argues Canberra may be facing pressure for a similar ban once again.“
How will Australia respond if the United States decides that all trade with China that might enhance its war fighting capabilities, including trade between Australia and China, must stop?“
This may sound like an alarmist question, but it shouldn’t.“
The possible role of Australian iron ore in China’s naval build-up has already been highlighted by some analysts and will likely face increasing scrutiny from the US in the years ahead.”Canberra could soon find itself in an untenable position.“
In a protracted Cold War scenario, the US could even link the issue of Australia-China trade to the reliability of its ANZUS alliance commitments,” Watson argues. “The point here is that if Australia wishes to separate its economic interests from security issues, a new Cold War will make that extraordinarily difficult.”Close ×

https://www.abs.gov.au/media-centre/media-releases/australia-achieves-record-month-iron-ore-exports#:~:text=Sean%20Crick%2C%20ABS%20Head%20of,cent%20of%20all%20March%20exports%E2%80%9D.