Australia: Iron ore export shipments down 6% m-o-m in Oct'21

Australia's iron ore export shipments decreased by 6% in Oct'21 to 70.24 million tonnes (mn t) as compared to 74.56 mn t in Sept'21 on reduced shipments from key miners like Rio Tinto and Fortescue Metals, according to vessel line-up data maintained with SteelMint.

Exports to China decrease in Oct'21

Notably, Australia's largest iron ore importer, China, recorded a fall in shipments by 4% to 58.38 mn t in Oct'21 against 60.65 mn t in the previous month.

South Korea was the second-largest importer in Oct'21. The country imported 4.69 mn t of iron ore from Australia, followed by Japan at 4 mn t.

Australia iron ore export shipments: Oct'21 v/s Sept'21

Qty in mn t
Source: SteelMint Stats, Customs
Provisional data

Shipper-wise performance-

• BHP's shipments to China increased by 4% m-o-m to 28.65 mn t in Oct'21.
  
  
• Export shipments from Rio Tinto to China decreased to 23.29 mn t in Oct'21 from 27.55 mn t in Sept'21.
  
  
• FMG's shipments to China decreased to 10.84 mn t in Oct'21 from 11.49 mn t in Sept'21.
  
  

Exports from Port Hedland remain stable in Oct'21

In Oct'21, Port Hedland exported 45.32 mn t of iron ore in line with the previous month at 45.21 mn t. Exports from Walcott accounted for 13.1 mn t, followed by Dampier at 10.18 mn t.

Outlook

The decline in domestic steel demand in China and ongoing steel production curbs, blast furnace and sintering restrictions, especially in the Tangshan region, have resulted in lower exports. Important government measures to curb air pollution in autumn and winter will be stronger and extend over a longer period of time. Therefore, a decline in iron ore imports from China is to be expected in the coming months with production at mills restricted.