Australia's exports of iron ore and coal increased to record levels in the December quarter of 2009 as a result of strong demand from Asia including Japan, Korea and China.
Iron ore export volumes for the quarter were more than 98 million tonnes and coal exports exceeded 74 million tonnes, according to Australian Bureau of Agricultural and Resource Economics' (ABARE) Australian mineral statistics December quarter 2009 report.
"The record volumes of bulk commodity exports in the December quarter were underpinned by demand from steel mills and power stations in Japan, Korea and China," said Paul Morris, ABARE Deputy Executive Director, on releasing the report.
Despite a nine percent increase in the value of the Australian dollar, Australia's energy and mineral resources export earnings increased by one percent to US$28.3 billion in the December quarter 2009.
The index of export prices of Australian energy and mineral resources declined by five percent in the December quarter. The energy export price index declined by nine percent and prices for metals and other minerals declined by one percent.
Higher world prices for metals and other minerals such as aluminium, copper, gold and zinc largely offset the effect of the higher Australian dollar in the quarter. Commodities which recorded significant increases in export earnings include: silver up 31 percent to US$61.3 million, bauxite up 50 percent to US$41 million, diamonds up 51 percent to US$81.4 million, manganese ores and concentrates up 33 percent to US$288 million, gold up 13 percent to US$2.7 billion and iron and steel up twelve percent to US$205.8 million.
Commodities which recorded significant declines in export earnings include: uranium oxide down 37 percent to US$166.5 million, metallurgical coal down seven percent to US$4.85 billion, thermal coal down nine percent to US$2.65 billion and iron ore down five percent to US$6.2 billion.
Production of more than half of Australia's major mineral and energy commodities was higher during the quarter. Commodities for which production increased include iron ore, gold, nickel, and aluminium.
