When iron ore goes up and down, you can bank your wealth is moving with it.
Because odds are that unless you run your own SMSF, your super fund owns some stock in BHP or Rio Tinto.
These two big burly giants of the mining world make big profits from China’s demand for this key steel-making ingredient. Some of those profits show up in your retirement fund. Billions also funnel into government coffers via taxes and royalties.
So in short, the iron ore price is important to you
But for how long can Australia’s gravy train continue?
We’ll keep you up to date on every move in the Chinese steel industry to developments in Western Australia’s Pilbara region right here…