Iron ore’s rise above $US140 to deliver larger budget windfall

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“We tend to see those forecasts pretty mechanically underestimating iron ore and other commodity prices, particularly at times like these, when the commodity prices are above the very long-term average,” Ms Timbrell said. ANZ senior economist Adelaide Timbrell. Elke Meitzel The steel-making commodity rallied to its highest price since June 2022 as Beijing stepped up its efforts to stem the property market’s decline. Last week, China’s biggest state-owned banks launched this year’s third round of rate cuts as authorities boosted efforts to lift economic activity. It comes after Beijing announced in November a 1 trillion yuan ($210 billion) plan to...