AUD: Iron Ore prices stronger
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.