Here are the government's updated forecasts for iron ore, coking coal and thermal coal. All forecasts are in US dollar terms. Iron ore Following renewed bouts of strength over 2017 and early 2018 iron ore prices averaged $67 per tonne free-on-board (FOB) in the March quarter 2018. Consistent with more recent declines, the iron ore spot price is assumed to be flat at $55 per tonne FOB over the forecast horizon. This is consistent with the MYEFO assumption. More »