The commodities industry downturn from 2013–2016 had a massive effect on companies in Australia and around the globe – with most mining companies going into survival mode.
The mining sector saw a 32.1 per cent increase in job opportunities since a year ago, despite a 6.2 per cent fall in the RBA’s Non Rural Bulk Commodity Price Index last April. The rise is reflected in the DFP Mining and Resources Job Index, which has experienced consistent rise for 10 consecutive months.
Mining is poised for growth, according to Deloitte’s 2018 Tracking the Trends report.
It was an up and down year for commodities, but things ultimately finished in the black.
Trump heading closer to presidency has seen a rally in metal and oil prices, further strengthened by the strong US dollar.
Iron ore has bounced higher on the back of hopes in renewed Chinese metal demand, finally breaking over the $US50 per tonne mark for the first time since September.
Analysts say there is “little light on the horizon” for the current commodities downturn for several years due to increasing imbalances between physical supply and demand.
Despite the apparent normalisation of low commodity prices, the Federal Government has predicted mining exports earnings to grow by more than 40 per cent by 2019-2020.
The price of iron ore continues to creep towards a 10-year low as the dynamics between the supply and demand begin to be questioned by traders.
Deloitte have released a list of the top ten industry trends we can expect in 2015. Part 4 – The supply/demand problem.
Export earnings from LNG are set to tumble from earlier expectations, due to the dive in global oil prices.
Iron ore prices slide further… More from the WA FIFO Mental Health Inquiry… Gorgon Project gets a new ‘floatel’.
Iron ore has steadily rebuilt on price over the last two weeks, in the wake of an 8 per cent drop that left miners quaking in their steel-capped boots.