Business
Brazil’s virus pain to extend Australia’s iron ore gain – The Australian Financial Review
The Department of Industry believes the price of Australia’s most lucrative commodity, iron ore, will remain elevated for close to two years.
”The main risk to prices is thus on the demand side.”
Brazilian decline
The suggestion that Brazilian supply was unlikely to rebound soon was backed by shipping data published last week, which suggested Brazilian miner Vale is not exporting at a fast enough rate to achieve its export target for 2020.
Iron ore prices rose as high as $US130 ($185) a tonne in the past two months. It fetched $US114.67 per tonne (including the cost of freight) on Friday.
The department predicted iron ore would …
-
Noosa News24 hours agoThis 42-Kilometre Walking Trail on the NSW North Coast Weaves Through Ancient Rainforest, Volcanic Mountains and Spectacular Waterfalls
-
Noosa News22 hours agoEaster weather forecast: What to expect in Sydney, Perth, Melbourne, Brisbane, Adelaide and Canberra
-
Noosa News22 hours agoQueensland cop cleared by court of stealing watches during anti-gang raid
-
Noosa News23 hours agoAnother power station confirmed offline as political fallout continues amid cultural issues