Exports of goods in June 2021 increased from the revised May 2021 estimate of $38,397m by $2,889m (8%) to $41,287m.
In June 2021:
• metalliferous ores increased $1,485m (8%)
• coal increased $555m (15%)
• non-monetary gold increased $507m (34%)
• gas increased $377m (14%)
Metalliferous ores increased to a record high of $20,494m, and accounted for almost half of Australia’s total export value in June. This is the fourth consecutive record month for metalliferous ores. Driving the increase was iron ore, up $1,043m (6%) to $17,553m. The iron ore increase was primarily price driven despite recent pressure to reduce prices.
Also driving the metalliferous ores increase was copper ore, up $302m (55%) to $847m. The increase was driven largely by an increase in price, up 37%, to above $5.00 per kilogram for the first time on record. Green technologies have been increasing demand for copper amidst limited global supply.
Coal increased to its highest value since April 2020 driven by hard coking coal, up $332m (24%) and thermal coal, up $164m (10%). Japan and South Korea drove the increases in both coal types.
The increase in non-monetary gold was driven by increases to the UK, up $441m, and China, up $396m, and partially offset by a $442m decline to Hong Kong.
The increase in gas was driven by an 18% increase in the price of liquefied natural gas, as quantity declined 4%.
Offsetting the increases:
• petroleum declined $308m (-30%)
• gold coin declined $183m (-58%)
• oil seeds declined $171m (-48%)
• non-ferrous metals declined $160m (-14%)
Petroleum and gold coin both declined in June off the back of strong May exports, petroleum to the lowest level since January 2021 and gold coin to the lowest level since October 2020.