Iron ore price rising to US$124.50 a tonne
The spot price for iron ore is US$124.50 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$4.17 per pound, nickel is US$27,172 per tonne, and lithium is CNY¥457,500 per tonne.
Gold is trading at US$1,814.11 per ounce.
WTI crude oil is selling for US$111.03 per barrel while Brent oil is higher at US$111.93 per barrel.
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