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EXPORT PRICE INDEX
The Export Price Index rose 4.9% in the March quarter 2018. This follows a rise in the December quarter 2017 of 2.8%.
Prices received for many of Australia's mining commodities rose in the March quarter 2018. Metalliferous ores and metal scrap prices rose 6.1%, driven mainly by rises in iron ore as Chinese manufacturers continued to build stockpiles.
Coal, coke and briquettes rose 6.5%, reflecting demand from China as well as local supply disruptions.
Gas, natural and manufactured, rose 13.8%, in response to strong demand for LNG in northern Asia for heating. Export contract prices for LNG are also influenced by the international crude oil price with a two to four month lag.
Petroleum, petroleum products and related materials rose 9.6%, reflecting tight worldwide supply due to global production restrictions and capacity constraints.
Non-ferrous metals rose 4.8%, driven by rises in Nickel, Copper, Zinc and Aluminium.
Live animal export prices rose 22.2%, reflecting increased demand for cattle, and road transport disruptions.
Offsetting the rises were falls in Sugar, sugar preparations and honey (-8.6%) and Power generating machinery and equipment (-2.9%).
Through the year to the March quarter 2018, the Export Price Index fell 1.4%, driven by Metalliferous ores and metal scrap (-10.9%) and Sugar, sugar preparations and honey (-35.2%).
MAJOR EXPORT PRODUCTS
The price movements of Australia's major export products are summarised below:
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