Tag: iron ore
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Iron ore price drop would leave Australian miners at risk
Small-scale junior iron ore miners in Australia could face serious damage to their portfolios if prices drop in the near future. In a market that is known to be highly cyclical, a recent downturn in iron ore prices after a quarter of sustained growth is a cause for concern to the smaller mining operations, such…
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Iron ore price drops to lowest point in 2017
The price of iron ore has seen a massive drop after Chinese demand for steel continues to fall. The price dropped by 4.3% to $87.59 US a tonne overnight, the biggest percentage drop in 2017 so far . This recent fall extends the losses from earlier in the week to over 7%. This also the…
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Hopeful market as AUD and ASX rise
Australian traders will be feeling positive this morning as the Australian dollar climbs in early trade. The AUD now buys 0.7437 US cents, which represents a 0.09% increase on Friday’s closing price. The stronger performance of Australia’s key export commodities has helped to augment this rise, in particular iron ore. This week Australia’s largest export…
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Aussie Dollar reaches nine month high
The Australian dollar today reached a nine month high of 77 US cents. This is mainly attributed to the strengthening global equity markets and commodity prices. Last night crude oil rose 3%, iron ore reached $US60 per tonne and gold realized its highest quarterly gain in three decades. Indeed, following a business survey, NAB said…