Iron ore price is crucial for Australian miners

Since July, when China's exports from Australia began to decline, the price of iron ore continued to decline.

In response to unacceptable emissions, orders from Beijing to limit steel production across China affected three major Australian companies as share prices fell as iron ore prices fell.

The three major iron ore producers listed on the Australian Stock Exchange, BHP, Rio Tinto and Fortescue Metals Group, were the three companies that experienced the most impact.
The share price of all three suffered notable declines.

We're looking at what happened in the $125 billion export market to the national economy last year and whether the price will continue to drop into 2022.

Prices hit record highs of $233 on May 12, but have since dropped roughly more than half, hitting as low as $110 last Friday.