Operations at global mining giants recovered well in the third quarter, helped by a pick up in China’s economy, after taking a huge hit earlier from the outbreak of the Covid-19 pandemic. China, the leading consumer and producer of metals, is expected to be the only major economy that will show positive growth this year. […]
A sharp rebound in the Chinese economy – the world’s biggest consumer of resource and energy commodities – means Australia would benefit in a world battling with an overall economic contraction, a latest quarterly government report said. According to Australia’s Department of Industry, Science, energy and Resources, resource and energy commodity exports are likely to […]
Agriculture’s crop-led recovery from drought remains on track but falling prices and global economic uncertainty from COVID-19 is forecast to temper earnings, the Australian Bureau of Agricultural and Resource Economics (ABARES) said in a statement. ABARES’ September Agriculture Commodities report forecast the gross value of production to stay unchanged at $61 billion despite a significant […]
While China is facing structural challenges in the West, ties with the developing world are likely to remain growing. Therefore, the latest push by countries such as Australia to decouple could backfire in the long run as China will remain the most important industrial country in the global supply chain, reports OilPrice.com. IAC Desk
For the first time in many years, Australia’s agriculture sector is experiencing price movements driven by falling demand in wake of the pandemic rather than output-led supply changes such as droughts or cyclones, according to a government report. However, the downturn is economic activity is unlikely to have any significant impact on demand for essential […]
(The story appears here courtesy our content partner Mysteel Global) Australia overtook Mongolia to become China’s top coking coal supplier for the first half of 2020, with the tonnage up 66.5% on year to 24 million tonnes as against the overall growth by 5.6% on year to 38.2 million tonnes, according to detailed data from the […]
China’s surging demand for iron ore and coal worldwide has boosted Australian exports despite the rising animosity between the two countries. The surge illustrates a two-track trade relationship developing between the economies: imports critical to China’s infrastructure stimulus are climbing while trade bans are imposed on beef, barley and education, which can be sourced from […]
Global supplies of bauxite, the mineral for making aluminium, have been unscathed by the Covid pandemic and are expected to grow by 3.3% in value annually over the next seven years, says a report by Grandview Research. The global bauxite market was valued at $9.9 billion last year. China is the largest producer of bauxite, […]
Australia’s iron ore export values are estimated to have risen from $78 billion in 2018–19 to $103 billion in 2019–20, a government report said, due to strong prices and a low Australian dollar. However, export earnings are expected to drop to $81 billion by 2021–22. According to the report, iron ore prices have held up […]
The current global downturn triggered by the COVID-19 pandemic is affecting commodities in a wide variety of ways, but Australia’s overall export outlook is still relatively strong, a government report said, adding that export earnings are estimated to set an all-time record in 2019–20. The report by Australia’s Department of Industry, Science, Energy and Resources […]
