Australian dollar rises Australia's steel industry is under tremendous pressure

Australia’s Prime Minister Julia Gillard said on Wednesday that the Australian steel industry and other economic sectors are under various pressures, including the strengthening of the Australian dollar.

Australian Prime Minister Julia Gillard said on the 15th that the Australian steel industry and other economic sectors are under various pressures, including the strengthening of the Australian dollar.

Gillard told Congress that the Australian steel industry is under tremendous pressure due to the transformation of the domestic economy; Australia's mining and energy industries have created a lot of wealth, which in turn has pushed the Australian dollar higher.

Girard also stated that the government has been discussing and formulating future plans with the steel industry. As the carbon pricing plan advances, the government needs to maintain dialogue with the steel industry.

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