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Commodity prices fall in July: RBA

Posted on 02 August 2013

The Reserve Bank of Australia’s index of commodity prices fell by 1.5 per cent in the month in foreign currency terms. After the latest fall, commodity prices are down by 24 per cent from their peak in July 2011, and at their lowest ebb since April 2010.
The RBA said the main contributors to the fall in July were coal and gold, which were partly offset by increases in iron ore and crude oil prices. The RBA uses estimates of actual prices received by exporters to compile its index and noted that spot market prices for iron ore, coking coal and thermal coal had actually risen by 2.3 per cent…………………………………..Full Article: Source


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