FX.co ★ Australia Q1 Export Prices Rise for 2nd Quarter

Australia experienced a 2.1% quarter-on-quarter increase in export prices during the first quarter of 2025, following a 3.6% rise in the final quarter of 2024, indicating a positive trend over two consecutive quarters. However, when viewed annually up to the first quarter, export prices fell by 4.7%, after an 8.6% decline in the previous quarter. The primary drivers of growth included a 5.4% increase in metalliferous ores and metal scrap, largely due to a rise in iron ore prices driven by economic data from China and the announcement of additional Chinese government economic stimulus measures. Additionally, non-monetary gold prices surged by 12.4%, buoyed by escalating global uncertainties that maintained strong demand for gold as a safe haven asset, complemented by central banks' continued accumulation of gold reserves. Conversely, these gains were offset by a 6.6% decline in coal, coke, and briquettes prices, with notable drops in metallurgical coal prices attributed to milder winter temperatures in North Asia. Furthermore, there was a 2.5% decrease in natural and manufactured gas prices, impacted by declines in petroleum gas prices.