Pete Wargent blogspot

PERSONAL COACH | PROPERTY BUYER | ANALYST

'Must-read, must-follow, one of the finest analysts in Australia' - Stephen Koukoulas, ex-Senior Economics Adviser to Prime Minister Gillard.

'One of Australia's brightest financial minds, must-follow for accurate & in-depth analysis' - David Scutt, Markets & Economics Editor, Business Insider.

'I've been investing 40 years & still learn new concepts from Pete; one of the finest commentators' - Michael Yardney, Amazon #1 bestseller.

'The most knowledgeable person on Aussie real estate & most comprehensive analyst I follow in Australia' - Jon Tepper, Variant Perception, 2 x NYT bestseller.

Wednesday, 10 October 2018

Now iron ore is at $100/tonne

NGDP...

With coking coal already having enjoyed a bonanza at $200/tonne and the lower dollar boosting export prices, now it's the turn of iron ore to go on a surge on the expectation of Chinese stimulus measures.

The spot price jumped 2.5 per cent to $71.14/dry tonne (62% Fe Fines) during today's trade.

That's the highest spot price close since March 15, for a 7-month high. 


And with the Aussie dollar down at 71 US cents, this puts the price in Aussie dollar terms back above $100/tonne...something we haven't been able to say for a long while. 

With LNG exports also smoking records by the month here are further signs that we're heading for an income boom, ultimately to be translated through into wages growth.