Export prices in Australia were up 5.5 percent on quarter in the fourth quarter of 2020, the Australian Bureau of Statistics said on Thursday – beating forecasts for a decline of 1.3 percent following the 5.1 percent drop in Q3.
Import prices sank 1.0 percent on quarter versus expectations for a fall of 2.4 percent after sinking 3.5 percent in the three months prior.
On a yearly basis, export prices were up 0.3 percent and import prices tumbled 7.3 percent.
The largest contributor to export prices was metalliferous ores and metal scrap (+11.5 percent), driven by the demand for iron ore from China.
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