Hurrah! After five desperate years the the index has actually stopped crashing!
Let's hope it doesn't slip on another oil slick.
These charts a tad fiddly, but you can expand them by clicking on them. Or swiping them. Whatevs.
In plain Pommie, the strong Aussie dollar is not helping exporters get a very handsome price for our iron ore, coal, or gas.
Namely these are iron ore, for which the price outlook is arguably very dim, and coal, which perversely is absolutely screaming higher.
Indeed, the RBA's index based on spot prices for the bulk commodities is a thunderous +17.2 per cent higher than a year ago.
In respect of the the key commodities the RBA's figures are based upon monthly average estimated export prices, and so to date have not yet reflected the incredible +164 per cent boom in coking coal spot prices (where a supply side 'perfect storm' has caused the price to more than double within a matter of only six weeks).