SHANGHAI , China July 14, 2025 –
Australian Prime Minister Anthony Albanese is making waves in Shanghai today, bringing together top executives from Australian mining and Chinese steelmaking industries to tackle the pressing issue of decarbonisation. The high-level roundtable, held on the second day of his six-day China tour, aims to strengthen economic ties and address global challenges in the steel sector.
In a post on X earlier today, PM Albanese highlighted the critical role of Australian iron ore, which constitutes 60% of China’s imports for steel production. “Steel made from Australian iron ore is in everything from buildings to bridges in China,” he wrote, underscoring the economic benefits that create jobs and boost both nations’ economies. However, he also emphasized the need for a sustainable global steel sector, noting that steelmaking accounts for 7-9% of global emissions.
The meeting, accompanied by images of formal discussions and handshakes, reflects a collaborative push to lower emissions through innovative technologies. Geraldine Slattery, BHP President Australia, praised the delegation as a testament to the ongoing prosperity of both countries, expressing hopes to invest in breakthroughs that will reduce emissions in steelmaking facilities worldwide.
This initiative aligns with growing global concerns over China’s excess steel capacity, a topic recently addressed by Reuters on July 14, 2025. China’s push for greener steel production under its “dual carbon” goals, as noted in a February 2025 analysis by *The Conversation*, could potentially shift demand for Australian iron ore. Meanwhile, the International Energy Agency has stressed the urgent need to scale up near-zero-emission steel processes to meet the Net Zero Emissions by 2050 Scenario.
Australia’s iron ore sector is also adapting to these changes. A Reuters report from March 20, 2024, highlighted efforts to integrate green hydrogen and solar power, potentially influencing the outcomes of today’s discussions. Additionally, the U.S. Inflation Reduction Act of 2022, which allocated $5.8 billion for industrial decarbonisation, could set a precedent for global steel technology trends, impacting the Australia-China collaboration.
PM Albanese’s efforts echo the legacy of former Prime Minister Gough Whitlam, who laid the groundwork for Australia-China relations during his 1971 visit to Shanghai. As the roundtable unfolds, all eyes are on whether this partnership will pave the way for a greener steel industry while safeguarding economic interests on both sides.