Trump's Infrastructure Plan a Boon for Iron Ore, Cormann Says

U.S. President Donald Trump’s plan to upgrade the nation’s roads, ports and bridges will drive demand for steel and support iron ore prices, Australia’s Finance Minister Mathias Cormann said.

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