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Commodities

Coal expected to be Australia's most valuable export in 2018-19

Recovering demand lifts prices, underscoring dependence on China

Australian coal prices are rising, due in large part to stronger demand from China and industry consolidation.   © Reuters

SYDNEY -- Coal is expected to become Australia's most valuable export for the first time in nine years in fiscal 2018 ending June this year, as increasing concentration in the mining industry pushes up prices and exports to China and other countries in Asia rise.

Iron ore prices, on the other hand, have continued to decline, dragged lower by falling Chinese demand. The shift in Australia's resource exports also highlights its dependence on the state of the Chinese economy.

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