Australia, the world’s largest exporter of coal and iron ore, raised its forecast for commodity exports this fiscal year to a record amid increasing demand and cli mbing
prices. Sales may reach AUD 2 14.9 billion (USD 203.4 billion) in the year ending 30 June 2011. That compares with the June es timate of AUD 202.5 billion and a
revised AUD 170.6 billion for the previous year. Amid continued concern about the MRRT from Australia's junior iron ore players, CISA secretary-general Shan Shanghua yesterday said China's steelmakers would "not be able to accept rising costs from the Australia iron ore mining tax".