The spot price for iron ore is US$139.50 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$4.5 per pound, nickel is US$48,211 per tonne, and lithium is CNY?493,500 per tonne.
Gold is trading at US$1,917 per ounce.
WTI crude oil is selling for US$95.40 per barrel while Brent oil is lower at US$98.81 per barrel.