Trump's infrastructure upgrade plan 'a boon for Australian iron ore exports'

Hong Kong

US President Donald Trump's plan to upgrade America's roads, ports and bridges will drive demand for steel and support iron ore prices, Australia's Finance Minister Mathias Cormann said.

"The US and the Trump administration have put out a very ambitious infrastructure investment programme" and the steel will have to come from somewhere, Mr Cormann said in an interview in Washington. "So global demand for steel, we believe, will continue to require significant exports of Australian iron ore."