The government of Australia has earmarked Au$1 million to promote and endorse the high quality of locally designed and produced products to key overseas markets. The new funding.
Australia extends iron ore price outlook above $100 per tonne to late 2021 Australia expects the iron ore price to stay above $100 per tonne until late 2021 - instead of mid-2021 as it said in a previous report - and decrease to $72 per tonne by the end of 2026. This iron ore price outlook for the rest of 2021 is supported on strong demand from China and concerns about disrupted supply in Brazil, Australia’s Department of Industry, Science, Energy & Resources said in its resources and energy quarterly report released on Monday March 29.
On the iron ore supply side, Australia expects challenges from competitors such as South America and Africa who should increase iron ore output in the coming years, but global iron ore markets should remain tight with slow growth in both supply and demand over the next five years, Fastmarkets heard.
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World Exploration Trends 2021 Report
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3 Feb, 2021 Author Tracy Hu
With an unofficial ban by the Chinese government on Australian coal since 2020 impacting global trade flows of the bulk commodity, experts expect to see a more diversified structure for China s coal supply this year if the ban remains in place.
In 2020, China s overall coal imports rose 1.5% to 303.99 million tonnes, according to data from the General Administration of Customs. The world s largest coal consumer s imports of the bulk commodity grew at their slowest pace since 2016, official data showed. The growth rate of China s coal imports has maintained below 10% since 2017, with the government implementing strict import restrictions to support domestic coal producers by allocating incoming quotas to local end-users in recent years.