Australia: Iron ore export shipments hit a one-year low in Feb'21 on seasonal factors

Australia's iron ore export shipments were recorded at 61.07 mn t for Feb'21, down by 10% against 67.76 mn t in Jan'21, according to the vessel Lineup data maintained with SteelMint.

Australian iron ore exports dropped for the month amid seasonal hindrances, lower Chinese demand due to Lunar New Year holidays and rising Chinese port inventories. Iron ore inventory at major Chinese ports picked up to 129 mn t towards Feb'21 end against 126.15 mn t towards early Feb'21.

In addition to Chinese holidays, the announcement of strict pollution control measures by local authorities of Tangshan, in order to improve air quality, also lowered procurement.

Global prices continued to increase throughout the month of Feb'21. The spot iron ore fines (Fe 62%) index stood at $158/t, CNF China towards early Feb'21 and increased to $174/t, CNF China towards Feb'21 end.

Australia's iron ore export shipments to China drop by 8% in Feb'21 Australia's iron ore export shipments to China stood at 50.37 mnt in Feb'21, down 8% against 55.03 mnt in Jan'21. Japan was the second-largest importer for the month at 4.55 mnt (up 4% m-o-m) followed by South Korea at 3.48 mnt.

Shipments to India recorded nil in Feb'21 Australian iron ore shipments to India continued to remain nil for the third consecutive month in Feb'21. Shipments to India had resumed after a gap of about one and a half years in Nov'20 at 65,000 t.

Australia iron ore exports: Feb'21 v/s Jan'21

Qty in mn t
Source: SteelMint Stats
Provisional Data

Exports from Port Hedland fell 13% in Feb'21 In Feb'21, Port Hedland exported 36.23 mn t of iron ore against 41.65 mn t in Jan'21, registering a 13% drop m-o-m. Walcott stood second-largest exporter at 12.91 mn t, followed by Dampier at 10.35 mn t, Esperance at 0.88 mn t and Geraldton at 0.70 mn t.