Market dips into red

IT WAS a negative day for the bulk of resource plays on the Australian Securities Exchange as base metals prices fell across-the-board, while storms that affected Australia’s north during the March quarter contributed to a 5.5% quarter-on-quarter drop in the country’s mineral and export earnings.

In the Australian Bureau of Agricultural and Resource Economics’ Australian Mineral Statistics report released today, Australia’s export earnings from mineral resources dropped $A1.5 billion to $25.

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