Satellite image of a cyclone
Prices of iron ore in the world market could further go higher in the next few months after exports of the raw commodity by the world’s global iron ore miners have been hampered due to severe weather disturbances.REUTERS

Weather forecasters warned of a possible wet Christmas in Australia because of two possible cyclones that are just near the Australian coast.

One of it, now considered just a tropical low, is less than 300 kilometres from Darwin. Tom Saunders, senior meteorologist for the Weather Channel, described the tropical cyclone forming off the Northern Territory coast as unpredictable.

He explained that it did not fit any weather model and Aussies have little choice except to wait to see if it would become more aggressive and in what direction it would move. He said the only clear thing about the tropical low is that it would move in a northerly direction.

Angeline Prassad, senior forecaster of the Bureau of Meteorology, said the next 24 hours will be crucial in determining the possibility that the cyclone would affect the country on Sunday, She hinted the earliest time that the possible cyclone could hit Australia is Friday night.

The adverse weather condition may affect the Friday and Saturday flights of Aussies who are moving in numbers to southern cities for Christmas celebrations.

Mr Saunders warned Australians to expect 16 cyclones this summer.

He added that the other possible cyclone is forming over the Coral Sea and would likely track between Australia and New Caledonia. It is currently 1,000 kilometres off the  coast.

The chilly summer has already taken its toll on clothing retailer Billabong which forecast lower earnings and sparked stock sell-offs causing Billabong's shares to plummet by 34 per cent.