Australia Export Prices Rise 1.1% in Q2

Australia's export prices climbed 1.1% quarter-on-quarter in Q2 2026, after a 0.5% rise in the previous quarter. It was the third consecutive quarterly increase, driven primarily by a 5.4% rise in coal, coke, and briquettes due to higher thermal coal prices amid stronger demand. Meanwhile, petroleum and related products jumped 22.7%, buoyed by higher oil prices due to ongoing tensions in the Middle East. Crude fertilisers also surged 20.9%, reflecting growing demand for lithium used in the battery storage and electric vehicle sectors, as well as constrained Chinese inventories. However, the increase was offset by declines in non-monetary gold (-8.8%), as tightening monetary policy expectations and higher US Treasury bond yields outweighed safe-haven demand, and metalliferous ores and metal scrap (-1.4%), which were weighed down by high Chinese iron ore stockpiles and strong global supply conditions. Through the year to Q2, export prices rose 3.9%.

Australia's export prices increased by 0.5% quarter-on-quarter in Q1 2026, marking a sharp slowdown from the one-year high of 3.2% in Q4 2025. The deceleration was driven primarily by a 5% drop in metalliferous ores and metal scrap, reflecting seasonally weaker Chinese demand for iron ore ahead of the Lunar New Year, as well as elevated stockpiles at Chinese ports. Moreover, gas prices, natural and manufactured, plunged 8.2%, as oil-linked contracts tracked lower crude oil prices during the December quarter. In contrast, non-monetary gold prices surged 10.8%, underpinned by sustained safe-haven demand amid ongoing geopolitical and economic uncertainty. Coal, coke and briquettes also climbed 5.3%, supported by higher metallurgical coal prices as weather-related disruptions constrained Australian supply. Lastly, crude fertilisers surged 58.3%, driven by robust global demand for lithium, critical to battery and electric vehicle production, alongside low Chinese inventory levels.

Australia’s export prices increased by 3.2% quarter-on-quarter in Q4 2025, recovering from a 0.9% decline in Q3, marking the first increase in three quarters, and the fastest pace in a year. The main contributors to the rebound were gold, non-monetary (+19.5%), reflecting ongoing demand for gold as a safe-haven asset due to geopolitical and economic uncertainty; metalliferous ores and metal scrap (+2.6%), driven by improved market sentiment this quarter, with iron ore demand improving due to seasonal restocking in China; and coal, coke and briquettes (+3.6%), supported by rising metallurgical coal prices. Offsetting these increases were gas, natural & manufactured (-5.2%), boosted by falls in petroleum gases, as oil-indexed contracts followed lower crude oil prices during Q3 2025; and petroleum and petroleum products (-6.7%), underpinned by production hikes by OPEC+ nations earlier in 2025. Through the year to Q4, export prices dropped by 0.3%, after edging up a 0.1% in Q3.