Join our digital Federal Budget event on Wednesday 26 March, as we unpack the key announcements and what it all means for you and your business.
Webinar
March 13, 2019
Minerals & Energy Outlook: March 2019
In USD terms, NAB’s Non-Rural Commodity Price Index is forecast to increase by 3.1% qoq in Q1 2019.
Overview
- In USD terms, NAB’s Non-Rural Commodity Price Index is forecast to increase by 3.1% qoq in Q1 2019. This increase reflects the impact of higher iron ore prices(due to Brazilian supply issues), with other trends mixed.
- Our commodity price outlook is essentially unchanged–prices are expected to peak in Q1 and ease modestly going forward.
- In annual average terms, the USD index is forecast to rise by 1.3% in 2019, before declining by 3.3% in 2020.Iron ore and metallurgical coal are the main drivers of this fall.
- Reflecting NAB’s currency forecasts, the commodity price movements in AUD terms are larger – with the index increasing by 5.1% in 2019 before falling by around 10% in 2020.
Find out more in the NAB Minerals & Energy Outlook – March 2019
