Iron Ore Prices Increase, Results to $2.7B Extra Revenue

Sydney Morning Herald reported that the Bureau of Resources and Energy Economics (BREE) has increased its prediction of the price of iron ore Wednesday, from $US101 to $US106 per tonne.

As quoted in the market news:


“While still lower than most exporters would hope for, the revised prediction would represent an extra $US2.7 billion ($2.57 billion) worth of revenue should it prove correct.


The change to BREE’s forecasts came on the same day the benchmark iron ore price hit its highest mark since July 20 when the commodity was beginning to lurch into a severe slump.


The benchmark price touched $US124.90 a tonne on Wednesday, and the price has been hovering around these levels – which are widely considered to be its ”floor” – for more than seven weeks.”


Click here to read the full Sydney Morning Herald report.


Get the Latest Iron Investing Stock Information

Get the latest information about companies associated with Iron Investing delivered directly to your inbox.

By selecting company or companies above, you are giving consent to receive email from those companies. And remember you can unsubscribe at any time.

Investing Opportunity: Using LME Prices and Base Metals News 

Get Our Expert Guide to Base Metals Investing FREE!

  Download this FREE Special Report, Investing Opportunity: Using LME Prices and Base Metals News.

Leave a Reply