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TRUNG LAM STEEL STRUCTURE COMPANY
We have worked with many clients all over the Southeast Asia since 2009 and attribute our high client retention rate due to our tailor-made pre-engineered steel buildings (P.E.B.) solutions to each client’s specific requirements as well as our commitments to any project’s outcome

 

Australian exports ride high on iron ore price recovery

 Officials are scrambling to adjust their forecasts to account for the unexpected boom, with high iron ore prices driving the strong figures.

The impact of the tailings dam collapse at one of Vale’s iron ore mines in Brazil this year, which led to a sharp fall in Brazilian iron ore exports, looks set to last at least two years.

It means the seaborne iron ore market is likely to remain tight, and prices elevated, at least until 2021, and Australia is the main beneficiary.

Official forecasts for resource and energy commodity earnings in 2019-20 have now been revised up by $12.9 billion to $285 billion, which would be another record.

“Prices are likely to be at least US$10-15 a tonne higher in 2019-20 than they otherwise would have been without the problems in Brazil,” the report says.

The figures are in the latest Resources and Energy Quarterly, for the June quarter, released today.

Partially offsetting the surge in iron ore prices is thermal coal — Australia’s fourth-biggest export commodity — which is facing a tougher climate, with prices deteriorating in recent months.

As a large producer and importer of thermal coal, China’s import policies, including extended customs clearance times, have added uncertainty into the market.

Seasonal factors appear to have had a larger-than-normal impact this year: the northern hemisphere — where most thermal coal is burnt — has emerged from a warmer than usual winter, which reduced heating-related energy use. 

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The tougher climate means gold could replace thermal coal as Australia’s fourth most valuable export commodity in 2019-20.

Australia has the world’s biggest gold resources and prices are going up.

Its gold exports are forecast to grow over the next few years, to a peak of more than $22 billion in 2020–21.

The growth reflects expected rises in local gold production and export volumes to Asia, particularly Hong Kong and China.

If thermal coal is separated from metallurgical coal, gold is forecast to overtake thermal coal as the fourth-biggest export commodity in 2019–20 and 2020–21, behind iron ore, LNG and metallurgical coal.

read more =>>DALIAN IRON ORE HITS RECORD HIGH ON REVIVED TRADE OPTIMISM

thewest.com.au

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