Australian export prices fall 4.5% in June quarter
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The news: Australian export prices fell in the June quarter due to a steep decline in iron ore and coal demand amid international trade uncertainty as well as Chinese property sector weakness, according to the Australian Bureau of Statistics.
The numbers: The Australian export price index fell 4.5% in the June quarter and 3.3% over the last 12 months.
Non-rural exports were down 7.2% in the June 2025 quarter and down 8.7% compared to June 2024. Iron ore export prices were down 9% over the quarter while coal, coke and briquette prices were down 10.4%. Gas prices fell by 4.4% over the quarter.
Meanwhile, gold export prices surged by 12.1% over the quarter, while meat and meat preparations rose 2.8%.
The import price index fell 0.8% in the June quarter but still posted a 1.4% gain over the last 12 months. This was primarily driven by a 2% fall in intermediate goods prices, which was led by petroleum and petroleum products (-11.5%).
The context: Iron ore and coal price declines were “linked to a slowdown in Chinese steel production”, according to ABS head of price statistics Michelle Marquardt. Thermal coal exports also declined as supply in India and China rose at the same time as China increased renewable power generation.
Demand for gold, often treated as a haven-asset, surged amid geopolitical conflicts and economic uncertainty. US demand drove Australian beef export price gains as the US Department of Agriculture reported that the country’s herd numbers hit their lowest level in 74 years.
Wheat prices faced a decline as countries in the northern hemisphere had large winter harvests, creating global oversupply.
The sources: ABS media release, ABS
