Australia has flourished as an export powerhouse for decades. Much of this prosperity has been driven by the nation’s natural endowment with two important raw products for producing steel the traditional way: iron ore and metallurgical coal.
Worth more than A$100 billion in 2024, Australia’s iron ore shipments to China make up about 55% of everything we export there. But a transformation has been taking place in China’s steel industry, which is under intense pressure to decarbonise.
