Australia, Brazilian iron ore shipments stable on week
The total shipments of iron ore dispatched to global destinations from the 19 ports and 16 mining companies in Australia and Brazil were largely stable on week during Jul...
The total shipments of iron ore dispatched to global destinations from the 19 ports and 16 mining companies in Australia and Brazil were largely stable on week during July 10-16, just nudging up 0.7% on week to reach 24.5 million tonnes after slumping in the previous week, according to Mysteel's latest survey.
"The fluctuation in the shipping volume was minute last week as the market is entering the traditional slack season for iron ore dispatch," a market analyst based in Shanghai explained.
During the survey period, Brazilian iron ore shipped worldwide from its nine ports had edged up by 153,000 tonnes or 2.2% on week to 7.1 million tonnes, with the volume sent from Vale rising 247,000 tonnes or 4.9% on week to 5.3 million tonnes.
Meanwhile, iron ore shipments from Australia's 10 ports were largely unchanged from the prior week at 17.4 million tonnes or picked up by a tiny 0.1% on week. Among the total, the volume shipped to the country's top consumer China increased 1.4 million tonnes or 9.6% on week to 15.4 million tonnes.
Among the top three miners in Australia, Rio Tinto cut its iron ore shipment to China by a large 1.2 million tonnes or 21.7% on week to 4.4 million tonnes last week, while BHP and Fortescue Metals Group both lifted their shipments, with the former's volume jumping 1.7 million tonnes or 44.6% on week to 5.4 million tonnes and the latter's increasing 204,000 tonnes or 6.8% on week to 3.2 million tonnes.
"The shipping volume from BHP rebounded to the normal level after the previous week's plunge," the Shanghai analyst noted.
As for this week in Australia, the country's 10 ports will all maintain normal operations during July 17-23 as the maintenance work has been completed, according to Mysteel's tracking.
Australian iron ore shipments to China over July 10-16
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.
