Australian iron ore exporters aren’t feeling any effects of Beijing’s ongoing economic sanctions against Australian exports, as China’s colossal demand for the mineral drive prices up to a 10-year high. Rio Tinto, an iron export giant, said their Australian iron ore assets had excellent operating performance in the first quarter of 2021. In the report of the company’s first-quarter production results (pdf), it showed their iron ore exports increased by seven percent compared to the same quarter of last year. “China’s industrial economy continues with strong momentum,” the report said. “Steel prices in China finished the quarter at decade highs as construction activity and steel demand in the first quarter… are at their highest since 2018.” However, it also said China’s focus on reducing emissions would likely restrain production and affect the iron ore exports. The price of the mineral, according to Market Index, is currently trading at around US$176 per …