Hard Commodities
Hard commodities are naturally occuring materials that are extracted or mined, such as gold, copper, iron ore, and oil.
Quick Reference:
Mined, not Grown. Key Exports for Australia.
Expanded Definition:
Australia is one of the world’s leadign producers of hard commodities, supplying much of Asia’s demand for iron ore, coal, and gas. These commodities are crucial for manufacturing, construction, and energy. Price movements in hard commodities have a significant inflluence on Australia’s trade balance, currency, and overall economic growth. They also tend to follow global industrial cycles, making them a key indicatior of global demand strength.