Coking coal fell $A164 million and steaming coal was down $36 million, aiding the overall $1 billion or 5% drop in mineral resources export earnings.

“Commodities with the largest decreases in export earnings in the March quarter 2006 were iron ore and pellets (down $555 million), crude oil (down $217 million), coking coal (down $164 million) and copper (down $134 million),” ABARE executive director Dr Brian Fisher said.

Other commodities that recorded significant falls in export earnings included liquefied natural gas (LNG), with a $36 million drop, and uranium oxide, down $79 million.

“These decreased earnings mainly reflect decreased export volumes resulting from factors such as adverse weather conditions, particularly in Western Australia, unplanned down time and maintenance,” Fisher said.

The index of export prices of Australian minerals resources (export unit returns) rose by 3.6% in the March quarter 2006 compared with the previous quarter. Compared with the March quarter 2005, the index was almost 40% higher.

“This is further evidence that the mineral resources boom is easing,” Fisher said.