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Chinese demand for Australian commodities not about to ‘decline drastically’ – Fitch

Posted on 20 March 2014

China’s stockpiles of iron ore won’t hurt Australian miners, ratings agency Fitch predicts. “The fundamentals underpinning China’s demand for key commodities from Australia remain unchanged,” Fitch wrote on its website this week.
Australian iron ore miners have been struggling with negative market sentiment as iron ore inventory at China’s major ports reached a two-year high, hitting 105 million tonnes as of March 7, 2014. Lower GDP forecasts in China and weak commodity prices have contributed to uncertainty among coal and copper miners as well. China is Australia’s biggest customer for these commodities………………………………………..Full Article: Source


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