CBA says it’s unlikely to play out that way
The Australian Government is expected to update the federal budget later this week to include an A$100 billion-plus downgrade in mining exports in the four years to fiscal 2027-2028 based on a slowdown of the Chinese economy. "The global economy is uncertain, and that's weighing on our own economy, and that's weighing on our budget," Australian Treasurer Jim Chalmers said during a press conference on December 16.
‘It's challenging to turn too negative on China's steel output'The CBA mining and commodities research director said that for the budget's floor price to be hit in the short term, China's steel output would need to contract dramatically more than it has in any of the past 34 years.
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