Australia looking to expand infrastructure to meet demand

摘要

Although a surge in de mand for coal and iron ore had long been forecast, Australian miners, hit by years of falling prices, have been reluctant to invest in infrastructure until they had positive proof that the upswing was real. This came in the form of far stronger contract prices than had previously been thought attainable and has provided the mining groups with windfall profits. Iron ore producers, for example, pushed through price hikes of 70 per cent earlier this year and, with the latest round of contract negotiations, look set to achieve a further, albeit more modest, increase as spot market prices are currently higher than contract levels.