Australia iron ore export shipments up 6% in Oct'20

Australia - world's largest iron ore exporter has recorded iron ore export shipments of 76.81 mn t for Oct'20. Shipments picked up by 6% on a monthly basis against 72.64 mn t in Sep'20, according to the vessel line up data maintained with SteelMint.

Australian iron ore export shipments remained on higher side despite maintenance activities by major miners, as per reports.

On a y-o-y basis, Australia iron ore export shipments increased by 12% as compared to 68.3 mn t in Oct'19.

Export shipments to China rose marginally in Oct'20

Australia's iron ore export shipments to China stood at 63.3 mnt in Oct'20, up against 61.1 mnt in Sep'20. South Korea stood as the second-largest importer for the month at 5.52 mnt (up 13% m-o-m) followed by Japan at 4.95 mnt. Australian export shipments to India continue to record nil for the month. The export to India was last witnessed on Mar'19 at 185,000 t.

Australia iron ore exports: Oct'20 v/s Sep'20

Qty in mn t
Source: SteelMint Stats
Provisional Data

Port Hedland exports up 4% m-o-m

In Sep'20, Port Hedland exported 46.1 mnt of iron ore, up 4% against 44.2 mnt in Sep'20. Walcott stood second-largest exporter at 17.2 mnt, followed by Dampier at 11.6 mnt and Geraldton at 1.1 mnt.

Prices decreased in Oct'20- Monthly average global iron ore fines (Fe 62%) price dropped to $120/t, CFR China in Oct'20 against that in last month at $124/ t, CFR China. Prices fell due to decline in futures and increase in port stocks. Iron ore stocks at Chinese major ports stood at 122.65 mn t in end Sept'20 which increased to 128.95 mn t in end Oct'20.

Australia exports to China & monthly average global iron ore fines (Fe 62%) price graph