Monday, May 22, 2006

iron ore price goes up

The commodities boom has been good for the Australian economy.

Iron ore prices have just gone up 19 per cent. Australia exports a lot of iron, especially to China.

The Chinese are not happy and do not want to pay so much (after all, the price of iron went up 71.5 per cent last year).

Given China imports 40 per cent of the world's iron exports, they think it is a buyer's market.

Australian and Brazilian producers supply a lot of iron, and given the global demand for iron and steel, think that it is a seller's market.

It would be very interesting to see what happens next.

- International Herald Tribune
- People's Daily

*As always, please check out Cooper and Camilla who always have interesting things to say.


Even though I spent some time with Emily when she went to bed last night, just before midnight, I forgave my human and went to snuggle up with him instead.

The only good thing about Monday is the evening and night time when I get laps and cuddles during Desperate Housewives and Commander in Chief.

The humans had a nice dinner tonight of roasted grain fed Bundawarrah free range pork belly with potato gratin and broccoli. I begged for some pork (it smelt so good) but my human refused. How rude!

I now have to put my toys back in the basket after I play with them.


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