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The Australian dollar rose to its highest in over two years, above 0.75 against the US dollar, as iron ore futures on the Dalian exchange surged about 10% to an all-time high above 1,000 yuan per ton. Analysts attributed the rally to Chinese demand and dwindling Australian supply after storms disrupted output at Port Hedland.
Iron ore strength lifts Australian export earnings and the AUD, but for feed buyers this is a currency and freight-adjacent signal with little direct effect on feed grain or meal supply.
cnbc.comWeizhen TanDec 14, 2020Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
