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Australia's iron ore exports to China fall in October - report

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(Kitco News) - The Australian Bureau of Statistics (ABS) reported yesterday that export of domestic goods in October 2021 fell $1,491m (3%) compared to September 2021 and amounted to $43,053m, driven by falls in iron ore prices.

According to the report, exports of metal ores and minerals from Australia in October were down $3,315m (23%) and amounted to $11,417m. The fall in metal ores and minerals was driven by a fall in iron ore prices, ABS explained.

On the other hand, exports of coal, coke and briquettes, were up $849m (14%) at $7,065m, and exports of other mineral fuels were up $560m (9%) at $6,889m, offset the fall, amidst high demand for energy inputs in Asian markets.

Additionally, ABS pointed out that exports of non-monetary gold from Australia were up $857m (59%) in October 2021 and amounted to $2,298m.

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More importantly, according to the report, exports of iron ore fines from Australia to China fell by $1,797m or 26% in October 2021 compared to the previous month, whereas exports of iron ore lumps to China were down $552m or 25%.

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