Chart of the Day: Pay dirt in AUD

The Prince is on hiatus for a week, so I’ll be filling his Chart of the Day shoes.

Today’s chart shows iron ore and thermal coal prices in Australian dollars.  They are typically quoted in USD however our big miners pay their Oz operations in Oz dollars, so these graphs are important.

Iron ore’s recovery from the GFC is remakrable – even more so when you consider how much stronger the AUD is now than a few years ago.

 

Data courtesy of www.indexmundi.com.

Comments

    • Oh for a Prince clone.

      Duly noted and chart changed – the source data was wrong and I didn’t pick it up. Something to be watchful of using the source site.
      Thanks.

  1. The iron ore prices are a tad strange. If the prices are in cents then they are most probably cents for dry metric tonne unit (dmtu).

    Working backward from the benchmark of ~$170 US dollars per tonne for 62% iron ore gives us approx US$2.74 per dmtu which would be ~$2.80 aussie dollars per dmtu. So the values in the chart do not make sense without some further explanation.

    • you may have thought the same thing in Sept 09 and then look what happened….
      Recent higher lows suggest it could go higher – but who knows!