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COMMODITIES MARKET PREVIEW-4

Iron ore price rising to US$150.50 a tonne

The spot price for iron ore is US$150.50 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$4.72 per pound, nickel is US$33,144 per tonne, and lithium is CNY¥482,500 per tonne.

Gold is trading at US$1,973.12 per ounce.

WTI crude oil is selling for US$106.95 per barrel while Brent oil is lower at US$111.60 per barrel.

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