NAB's price forecasts for iron ore and coking coal are higher than current SGX prices. The spot price for iron ore is around US$91, and for premium coking coal, it is around US$198.50 for September and approximately US$193 a tonne for December (the front month).NAB’s current spot price forecasts are US$100 a tonne for iron ore and US$235 a tonne for coking coal.NAB predicts significant weakening in the latter half of calendar 2025, with iron ore prices in the September and December quarters of that year forecast to be US$85 and US$84 a tonne, respectively. Coking coal prices are forecast to be US$190 a tonne.
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