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Australia Export Prices Spike 13.2% On Quarter In Q2

Export prices in Australia were up 13.2 percent on quarter in the second quarter of 2021, the Australian Bureau of Statistics said on Thursday – accelerating from 11.2 percent in the previous three months.

On a yearly basis, export prices surged 26.0 percent.

The main contributors to the rise were: metalliferous ores and metal scrap (+18.5 percent), driven by the demand for iron ore from China and constrained global supply; coal, coke and briquettes (+15.6 percent), reflecting the demand for thermal coal for household power production in Asia; and gas, natural and manufactured (+14.6 percent), due to the oil-linked contracts capturing the continued rise in oil prices in early 2021.

Import prices rose 1.9 percent on quarter and fell 2.5 percent on year.

The material has been provided by InstaForex Company –

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