Intensified this week, floods, Australia, Australia is more than a major exporter of commodities, including iron ore, coal is the world's primary suppliers of trade. The flood of more serious impact on exports, making the relevant prices have soared.
Bo analysis supplied by the person concerned, the most affected by floods in Queensland is the world's largest producer of coking coal, production accounts for about two-thirds of global trade. The impact of floods on the coking coal price is immediate, as of January 11, high-quality coking coal settlement price per ton of Cape Harbour rose 30 dollars to 298 dollars / ton, or 11.2%.
coking coal as China's own production of large, relatively high import channels, even if Australia does not lead to supply disruptions and gaps in the domestic coking coal. However, Japan, South Korea, Australia's import dependency on large, with the gradual reduction of the current stored coal mines, and production to continue, within 3 to April, including international markets, including Japan and South Korea will face a huge supply pressure.
Pilbara region of Western Australia iron ore exports of total global iron ore exports accounted for one-third of China's high dependence on imports of Australian iron ore, if the supply of the Pilbara problems, fear of domestic steel production will be affected.
present, the domestic spot iron ore prices have continued to rise, 63.5% grade fine ore exports to China, India, the price has more than 180 U.S. dollars / ton, for the last 5 the highest level since January. Most affected by the iron ore prices are plates, domestic hot-rolled coil due to the high inventory, prices have been relatively slow, but costs continue to increase, steel mills were forced to continuously improve the ex-factory price. Hot-rolled coil Bohai Mercantile Exchange this week or up to 150 yuan / ton.
Australia is the world's leading wheat exporter, exporting 14 million to 15 million tons of wheat. The flood has not yet a major impact on wheat yield, but the continuous rainfall have a negative influence on wheat quality, limited supply of high-protein wheat. The impact of floods on the wheat market more in the psychological level, has been relatively slow this week, the domestic wheat market has experienced substantial gains, the main wheat Friday ZCE 1109 contract offer 2,769 yuan / ton, up 2.18%.
other plate in the price of crude oil pipeline problems in Alaska led to the 12% idle capacity in the country, the high oil prices stimulated accidents continue to rise, as of 16:00 GMT Friday, NYMEX crude oil prices still at $ 90 / barrel top.
precious metals gold trend is still weak, the recent auction of government bonds led the Portuguese bond investment climate, Spain and Italy also were successful auction of 13 bonds, of which Spain is more to target maximum amount of financing, which makes the market EU worries about the debt crisis, temporary relief, the properties of gold being the most unattractive hedge, causing prices to fall.
out of non-ferrous metals market, the weak pattern of last week, bounced back to the high price, as of Friday's close, Shanghai copper offer 71,550 yuan / ton, back on the 70000 integer bits. (Xinhua Tao Junjie, Zhao Xiaohui)
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