buy canada goose jacket Australia downgrades iron ore revenue as China cools buy canada goose jacket
Canada Goose Jackets CANBERRA, Sept 18 (Reuters) Australia, the world biggest exporter of iron ore, cut its revenue forecasts for the key steel making canada goose clearance ingredient by a fifth on Tuesday, a fresh sign the country mining industry is losing steam as a slowdown in top customer canada goose factory sale China drives down prices. Canada Goose Jackets
canada goose coats on sale Resources exports shielded Australia from recession Canada Goose Online during the global financial crisis, thanks to on going strong demand from China in particular as its population becomes wealthier and more urbanised. canada goose coats on sale
But canada goose store slowing Chinese growth and falling prices have led to Canada Goose sale concerns for Australia economy and prompted warnings that the mining industry ongoing expansion cannot be taken for granted.
canadian goose jacket The Bureau buy canada goose jacket cheap of Resources and Energy Economics (BREE) forecast revenue from iron ore, Australia largest single export, of A$53.2 billion ($55.9 billion) in this fiscal year, down from a June forecast of A$67 billion and around A$63 billion last Canada Goose Parka year. canadian goose jacket
canada goose this is not good news, it is by no means a death knell for the Australian resources industry, Resources Minister Martin Ferguson told a mining and energy conference in Canberra. canada goose
Canada Goose Outlet is useful to remember that the commodity prices canada goose uk outlet experienced since last year were record breakers. And although it difficult to say when or if we canada goose black friday sale might scale to those exceptional heights Canada Goose online once more, canada goose coats BREE expects a Canada Goose Coats On Sale rebound in some commodity prices in 2013, should global growth pick cheap canada goose uk up as is expected by the International Monetary Fund. Canada Goose Outlet
Analysts said the quarterly forecasts tended to be behind the curve but did uk canada goose not a see significant risk of further major falls in demand for Australian resources.
canada goose clearance sale prices have certainly come down, so canada goose customers are asking for lower prices, but I think they still see (Australia) as a secure place to get supply, said Mark Pervan, the head of commodities research for ANZ in Melbourne. canada goose clearance sale
canada goose black friday sale END OF BOOM? Australia has been counting on a healthy $270 billion committed pipeline of resource and energy projects to canada goose coats on sale prolong its remarkable run of 21 years without a recession. canada goose black friday sale
canada goose coats But with prices for iron ore, coal and other resources under pressure, a further $200 odd billion of projects proposed but not committed is looking increasingly unlikely. canada goose coats
Canada Goose sale Despite the revenue downgrade, miner Rio Tinto Ltd said it remained confident of demand in the long term, particularly from China, thanks to a new economic stimulus. Canada Goose sale
Canada Goose Parka think that we start to see some rebound in demand over coming cheap Canada Goose months and into next year, Rio Tinto Australia managing director David Peever told reporters. Canada Goose Parka
the short term is very, very difficult.
Ferguson last month warned Australia canada goose uk shop resources boom was over Canada Goose Jackets after BHP Billiton shelved plans for an expansion of its Olympic Dam copper and uranium mine, although he later rowed back on the comments to say commodity prices had peaked.
cheap Canada Goose The world no.4 iron ore producer, Fortescue Metals Group, has also scaled back on expansion plans, while some high cost mines have begun closing and more may follow. cheap Canada Goose
canada goose store A portion of Australian coal miners were losing money at current prices, Xstrata said last week as it announced it was cutting production and hundreds of https://www.uscanadagooseoutletsale.com jobs. canada goose store
canada goose deals Prolonged low prices for iron ore and coal uk canada goose outlet could also hurt Australia economy and undermine the government hopes of returning its budget to a surplus by June 30, 2013, with lower resources earnings to impact on profits and tax revenue. canada goose deals
Australia central bank noted in the minutes from its last policy meeting that a sustained fall in export prices could hurt the terms of trade more than expected, but said it had scope to cut rates to respond to any major threat to growth.
buy canada goose jacket cheap LNG A BRIGHT SPOT BREE forecast Australia total resources and energy exports would dip Canada Goose Outlet 2 percent from record levels in 2011/12 canada goose uk black friday to about A$190 billion, compared to its previous forecast of A$209 billion. buy canada goose jacket cheap
It sees canada goose clearance sale iron ore exports in the year to June 30, 2013, of 509 million tonnes, little changed on its June forecast of 510 million tonnes and up 8 percent on the previous year.
Canada Goose online The government bureau said it expected contract prices for iron ore to be $126 per tonne through 2012 and $101 in 2013. Canada Goose uscanadagooseoutletsale online
The price of iron ore traded as high as $180 a tonne a year ago, but plummeted to a 3 year low of $86 earlier this month as demand in China fell before scrambling above $100.
canada goose clearance BREE said metallurgical buy canada goose jacket coal exports were set to ease slightly to 160 canadian goose jacket million tonnes, but revenues could fall 15 percent to A$26 billion due to softer prices canada goose clearance.
Recent Comments