The Australian Securities Exchange (ASX) is higher, gaining 51.70 points to 8,796.90 points by 10.30am AEST today (19 September) as traders reacted to media reporting of further interest rate cuts in the US.
Queensland’s “unsustainable” coal royalties have caused three major coal players to close operations, with 750 jobs lost at BHP (ASX:BHP) operations, more than 200 at risk on behalf of Anglo American (ASX:AQM), and another 170 roles under review following QCoal’s announcement today.
All sectors are higher on the platform today, with the materials sector rising by 0.25 with Asian markets expected to open in positive territory following the close on Wall Street.
The Dow Jones gained 0.3% in its last session, increasing by 124 points to close at 46,142 points.
European markets saw a strong session with both London’s FTSE and Germany’s DAX rising.
Gold is trading at US$3,637 ($5,503) per ounce, while copper is trading at US$4.53 per pound.
WTI Crude oil is selling at US$63.57 per barrel while Brent oil is up again at US$67.45 per barrel.
Iron ore is valued slightly lower from yesterday’s market open, currently at US$105.24 per tonne.
According to the Australian Government’s Resources and Energy Quarterly for June 2025, metallurgical coal is expected to remain in the US$200 per tonne range across 2026 and 2027.
The commodity averaged US$235 per tonne in 2024.
Write to Maddison Elliott at Mining.com.au
Images: Australian Securities Exchange
