May 22, 2015 10:00 AM ET
Australian market indexes struggled after iron ore prices declined for the eighth session in a row and dropped to a 3-week low. The latest decline in the Australia’s largest exported commodity extended losses by 8% and analysts held out for price per ton to touch in the low forties.
May 13, 2015 9:08 AM ET
Australian market indexes traded higher and the Aussie dollar held below 80 U.S. cents. BHP Billiton said it plans to cut its capital spending to $9 billion in fiscal year 2016 from $12.6 billion in fiscal 2015 and lower its iron ore production cost to $16 a ton.
May 12, 2015 9:47 AM ET
Australian federal budget offered incentives for small businesses and capital investments and softened unemployment burden for youth. In cautious approach, the government estimated annual iron ore price at $48 a ton and coal price at $90 a ton. Qantas surged after reporting a drop in fuel costs.
May 01, 2015 9:19 AM ET
Australian market indexes traded higher and trimmed weekly losses to 2% as home prices in capital cities across the nation continue to rise. Atlas Iron plans to reopen two of the three recently closed iron ore mines.