The OZR chart below tracks Aus resource stocks. As you can see...

The OZR chart below tracks Aus resource stocks. As you can see its tanked and is now at the same level it was in 2020 (pre-covid). Mineral Resources (MIN) has just announced it is closing down its iron ore operations. They say their iron ore operations are "not financially viable beyond the end of 2024".

If MIN has no forward orders for iron ore from China, then perhaps the same is happening to the others - as suggested by NAB's last business survey (see bottom chart). BTY, Dec 2024 is when China's massive Simandou iron project in Guinea, West Africa, is expected to be complete. (See here.)

This adds a lot of weight to the theory that China is intent on "pulling the rug" on our resource sector and our economy (and gov tax revenue) by obtaining all its resources elsewhere. (See here.)