Australia, Brazilian iron ore shipment largely stable

The total shipments of iron ore dispatched to global destinations from the 19 ports and 16 mining companies in Australia and Brazil remained largely stable on week during July 17-23, dipping only 0.3% from the previous week to 24.4 million tonnes, Mysteel's latest survey showed. The separate shipping volumes of the two countries showed divergence, though.

During the survey period, Australian iron ore shipped worldwide from its 10 ports had dropped by 909,000 tonnes or 5.2% on week to 16.5 million tonnes, with the volume sent to the country's largest consumer China losing 1 million tonnes or 6.5% on week to 14.4 million tonnes.

Among the top three miners in Australia, both BHP and Fortescue Metals Group reduced their shipments to China after lifting the volumes in the previous week, with the former's tonnage falling 810,000 tonnes or 15% on week to 4.6 million tonnes, and the latter's slumping 784,000 tonnes or 24.5% on week to 2.4 million tonnes.

Meanwhile, shipments from Rio Tinto to China reversed from the prior week's drop and jumped 867,000 tonnes or 19.8% on week to reach 5.2 million tonnes over the latest survey period.

On the other hand, Brazilian iron ore shipped from the country's nine ports to global destinations had increased for the second straight week by another 839,000 tonnes or 11.8% on week to reach 8 million tonnes. Among the total, the shipping volume from Vale had risen by a significant 897,000 tonnes or 16.9% on week to 6.2 million tonnes.

As for this week in Australia, two berths at Port Geraldton have been scheduled to undergo maintenance work for 72 hours, which is likely to reduce the country's iron ore shipments by some 58,000 tonnes during July 24-30, according to Mysteel's tracking.

Australian iron ore shipments to China over July 17-23

Written by Anthea Shi, shihui@mysteel.com

Edited by Alyssa Ren, rentingting@mysteel.com

This article has been published under an article exchange agreement between Mysteel Global and SteelMint.