Rio Tinto Lowers 2021 Iron Ore Shipments Forecast on Tight Western Australian Labor Market

Australian mining giant Rio Tinto Group (RIO) on Friday reduced its 2021 Pilbara iron ore shipments forecast as the COVID lockdowns, Supply crunch were further hampered by a tighter labour market in Western Australia. These have all led to a delay of the completion of a new greenfield mine at Gudai-Darri.

Rio Tinto Reaps Rewards as iron Ore Prices Hit Nine Year High

Iron ore prices have continued to rise sharply following ongoing Chinese industrial output, Prices for iron ore cargoes with a 63.5% iron content for delivery into Tianjin jumped to $172 per tonne in the third week of January. The highest level since October of 2011. At the same time Rio Tinto saw a 2.4% rise in Q4 iron ore shipments.

U.S. The World’s Largest Medical Device Market and Export Leader

The medical device market in the U.S is the largest in the world with a market size of near $156 billion that is around 40 percent of the medical technology market with U.S. exports over $41 billion in 2017 the Department of Commerce shows.

WTO Opens Australia Exporters Up To $1.7 Trillion Government Procurement Market

In the backdrop of trade wars and after three years of negotiations, the World Trade Organisation (WTO) has added Australia to the Agreement on Government Procurement (GPA), ensuring Australian exporters are now open to an estimated $1.7 trillion market.

Record Exports Give Australia Another Huge Trade Surplus

Record exports saw Australia have a much larger than expected trade surplus for the third month in a row. Australia recorded a trade surplus of more than AUD 1 billion for March, in seasonally adjusted terms a surplus of  AUD1.527 billion Australian dollars.

Australia Raises LNG Export Price Forecast, To Overtake Qatar as Largest Exporter

The Australian government revised up Australia’s LNG export price for the current and next fiscal years in it’s latest Resources and Energy Quarterly forecast. LNG is forecast to overtake metallurgical coal as Australia’s second largest resource and energy export.

Hypocritical Canada’s Trade War Over Australia Wine Brings WTO Action

Canadian Prime Minister Trudeau loves to complain about Trade Wars as NAFTA negotiations drag on and America launched steel and aluminum tariffs, all be it exempting Canada. Well it turns out Canada’s biggest ally, Australia has been the victim of Canadian hypocrital trade barriers on it’s wine.

America Exempts ‘The Great Nation of Australia” From Tariffs

U.S. President Trump announced that Australia would not be subject to the newly implemented American tariffs on steel and aluminum. Australia had used diplomatic pressure to save Australian steel. Trump said he will spare “the great nation of Australia” from the import levy.