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Why is the iron ore price crashing and what does it mean for Australia and the dollar? - ABC News
One is that the Chinese economy is slowing more generally, particularly property and infrastructure, curtailing the outlook for steel and the raw materials needed to produce it.
"The infrastructure and property sectors account for 20-25 per cent and 25-30 per cent of China's steel demand respectively," noted Commonwealth Bank commodities analyst Vivek Dhar.
"We think part of the weakness in China's steel demand is linked to widespread restrictions to contain China's latest COVID-19 outbreak."
