Today’s prices for the basket of key commodities tracked by Grafa are as follows:
The spot price for iron ore is US$109.50 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$3.84 per pound, nickel is US$24,503 per tonne, and lithium is CNY¥172,500 per tonne.
Gold is trading at US$1,999.46 per ounce.
WTI crude oil is selling for US$77.30 per barrel while Brent oil is lower at US$80.88 per barrel.