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China signals end of stockpiling

Discussion in 'The Economy' started by Tropo, 1st Jul, 2009.

  1. Tropo

    Tropo Well-Known Member

    17th Aug, 2005
    China signals end of stockpiling

    A RECORD-BREAKING run of commodities exports to China that has sustained the Australian economy may be set to end, with Beijing officials and advisers announcing an end to "strategic" stockpiling, and massive iron ore contracts likely to expire today.

    ..... If an agreement is not reached by midnight tonight, then a large proportion of iron ore sales contracts will automatically expire - for the first time in the 40-year history of benchmark contracting.
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