IRON ORE
SPOT PRICE
231. Hon Dr STEVE THOMAS to the minister representing the
Treasurer:
I refer to the 2019 to 2021 boom of iron ore prices.
(1) What is
the current spot price of iron ore as measured by Treasury?
(2) What is
the Treasury prediction for the iron ore price at the end of the 2021 calendar
year?
(3) Is an iron
ore spot price of $US110 or more at the end of the 2021 calendar year highly
unrealistic?
Hon STEPHEN DAWSON
replied:
I thank the Leader of the Opposition for some notice of the
question.
(1) It is $US209.55.
(2) Treasury forecast annual average prices for the financial
year.
(3) A range of scenarios are plausible as iron ore
prices are very volatile, a point that the previous Liberal–National government
never understood nor budgeted for when in office, resulting in very large debt
and deficits.