https://www.caixinglobal.com/2022-03-31/chinese-steelmakers-increasingly-use-yuan-to-buy-iron-ore-abroad-101863607.html
If the Saudis are pondering to settle oil transactions in RMB as the whole world loses trust in the USD, just as the Indians are buying Russian oil in Rubles, then this article may be a hint that China will soon make a major policy announcement about iron ore.
Perhaps suppliers willing to settle in RMB will get top preference.
We still end up getting the same amount of AUD at the end of the day.
https://www.caixinglobal.com/2022-03-31/chinese-steelmakers-incre...
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