Today’s prices for the basket of key commodities tracked by Grafa are as follows:
The spot price for iron ore is US$116.00 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$3.95 per pound, nickel is US$24,395 per tonne, and lithium is CNY¥172,500 per tonne.
Gold is trading at US$1,992.05 per ounce.
WTI crude oil is selling for US$78.44 per barrel while Brent oil is higher at US$82.48 per barrel.