Iron ore stabilizing above USD80/t - ANZ

Analysts at ANZ noted the the price action in Australia's key export to China.

• AUD/USD intermarket: what is iron ore's relationship with the Aussie currently?

Key Quotes:

"Iron ore prices eased lower but remained above USD80/t as sentiment stays positive towards stronger demand. Steel and iron ore futures actually rose as traders raised concerns about the slowing availability of cargoes. A fall in port stockpiles in China also added to the concern of some imminent tightness."