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.

News are provided by InstaForex