Australia’s Foreign Minister Penny Wong expressed confidence that Australia will avoid trade sanctions under the second Trump administration, following talks with US Secretary of State Marco Rubio. They discussed economic ties and the AUKUS deal, emphasizing the strategic importance of the partnership. The Quad foreign ministers also emphasized the importance of a free Indo-Pacific region in a joint statement.
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China’s $256b dam project in Tibet opens iron ore price floodgates
Iron ore and steel prices reached a four-month high, driven by China's announcement of a 1.2 trillion yuan hydropower project in Tibet, which is expected to boost demand for construction materials. The initiative aligns with efforts to reduce overcapacity in China's steel industry, potentially benefiting mill margins and raw material prices. Explain It To Me Like I'm 5: Iron ore and steel prices are going up because China is building a big dam, which means...
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