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MNI BRIEF: Aussie Export Prices Drop; First Time in 8 Quarters

MNI (PERTH)
MNI (Perth)

Australia's Export Price Index dropped for the first time in eight quarters in Q3, slowing as Chinese demand for iron ore weighed on exports, according to data released by the Australian Bureau of Statistics Thursday.

The Export Price Index fell 3.6%, paced by a 16.9% decline in prices for metalliferous ores and metal scrap fell 16.9% as a slowdown in China's housing market sapped demand for iron ore. Coal, coke and briquettes fell 6.2% in the quarter as weaker steel demand weighed on metallurgical coal prices. Despite the decline in the September quarter, the Export Price Index rose 25.9% y/y.

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Australia's Export Price Index dropped for the first time in eight quarters in Q3, slowing as Chinese demand for iron ore weighed on exports, according to data released by the Australian Bureau of Statistics Thursday.

The Export Price Index fell 3.6%, paced by a 16.9% decline in prices for metalliferous ores and metal scrap fell 16.9% as a slowdown in China's housing market sapped demand for iron ore. Coal, coke and briquettes fell 6.2% in the quarter as weaker steel demand weighed on metallurgical coal prices. Despite the decline in the September quarter, the Export Price Index rose 25.9% y/y.

Keep reading...Show less