Australia Expects Higher Iron Ore Exports, Raises Price Forecast

Bloomberg reported that Australia, which is the biggest iron ore exporter in the world, said it expects the value of exports to reach A$205B in fiscal year ending June 30, 2014.

As quoted in the market news:

Export earnings may be A$186 billion in the year ending June 30, it said. The bureau expects iron ore prices to average $119 a ton in 2013, compared with a December estimate of $106 a ton.

Click here to read the full Bloomberg report.