AUD: Iron Ore prices stronger

Author: Eamonn Sheridan | Category: News

This article is from the Australian Financial Review overnight – it is not ‘new’ news.

  • Panic buying is driving the price of Australian iron ore well past $US150 a tonne.
  • Analysts have warned that India will export little, if any, ore in 2013.
    “India is out at the moment and it’s usually strong when Australia and Brazil are weak,” Shanghai-based CLSA analyst Ian Roper said.
  • Prices have jumped 5.8 per cent since December 31, as Chinese lending ramps up after the end of 2012.

This is not going to be unsupportive of the AUD.

Iron ore rush as China gets back in the groove