Climate

China’s changing steel sector could leave Australian iron ore behind

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Based on a feed excerpt; full article content has not been acquired. Source evidence retrieved 29/09/2026, 09:58:24 UTC.

Briefings

China's steel sector faces declining demand and decarbonisation pressure, potentially leaving Australia's iron ore exports vulnerable. Australia currently supplies about three-fifths of China's iron ore supply, generating 60% profit margins for major miners like BHP and Rio Tinto. However, China aims for net zero by 2060, requiring significant green iron production. While Australia has funding and partnerships, private investment is needed to replace coal exports, which could cost AUD 170 billion annually. Key uncertainty remains whether Australia can deliver green iron reliably and affordably without breaching Chinese demand.

Key points

• Australia supplies approximately three-fifths of China's iron ore supply, generating 60% profit margins for major miners like BHP and Rio Tinto.
• China aims for net zero emissions by 2060, requiring significant green iron production to replace coal exports, which could cost AUD 170 billion annually over the next 14 years.

Context and limitations

Data reflects August 2026 and September 2026 snapshots; specific project timelines for green iron remain uncertain; exact future demand figures are not fully quantified.

Generated by Bittrees-hosted qwen35-2b sha256:aaf42c8b7c3c on 29/09/2026, 09:59:54 UTC. Based on publisher-provided feed evidence; may not cover the full original article. Check the source for details.

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