News Headline Summary

Australian government forecasts 4% decline in value of resource and energy exports in 2012/13 but volume increase will more than offset the price falls

- Australian government revises 2012/13 iron ore production forecast to 529mln tonnes from forecast 526mln tonnes in September.
- Australian government revises 2012/13 metallurgical coal production forecast to 162mln from forecast 164mln tonnes in September.
- Australian government revises calendar 2013 forecast average iron ore price to USD 106 per tonne versus USD 101 per tonne in September.
- Australian government revises calendar 2013 forecast average metallurgical coal price to USD 171 per tonne versus USD 183 per tonne in September.
- Australian government says Iron ore and coal exports is to rise substantially.

Reaction details:

- AUS/USD immediately moved up 6 pips from 1.0533 to 1.0539, trades 1.0537 (+10 pips) last.

Print 22:37, 11 Dec 2012 - Asian News - Source: Newswires