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1.Market Observations, 8.Was Sticky

21 July 2017 (AFR) – Iron ore’s unseasonal rally boosts budget hopes

(21 July 2017, AFR, p10, by Peter Ker)

Surging iron ore prices are on track to add billions in extra revenue to federal coffers if an unseasonal rally in Australia’s most lucrative export commodity continues. A 31 per cent rise in iron ore prices over the past 37 days has made Treasurer Scott Morrison’s forecast for iron ore to average $US55 per tonne (excluding the cost of freight) in fiscal 2018 look conservative. ‘

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