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Iron ore price falling to US$123 a tonne

The spot price for iron ore is US$123 a tonne, ahead of the Australian market open.

As iron ore exports account for anywhere between 20-40% of Australia’s total exports, the price of iron ore is a key indicator for the trading day on the Australian stock market.

In other commodities, copper is trading at US$4.21 per pound, nickel is US$28,309 per tonne, and lithium is CNY¥457,500 per tonne.

Gold is trading at US$1,851.34 per ounce.

WTI crude oil is selling for US$105.57 per barrel while Brent oil is higher at US$107.32 per barrel.

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