Australian, Brazilian iron ore shipment slump 14% w-o-w

After rising during the previous week, the total shipments of iron ore dispatched to global destinations from the 19 ports and 16 mining companies in Australia and Brazil dropped by a large 3.9 million tonnes or 14.4% on week to 22.8 million tonnes over July 31-August 6, with shipping volumes falling from both countries, according to Mysteel's latest survey.

After rising during the previous week, the total shipments of iron ore dispatched to global destinations from the 19 ports and 16 mining companies in Australia and Brazil dropped by a large 3.9 million tonnes or 14.4% on week to 22.8 million tonnes over July 31-August 6, with shipping volumes falling from both countries, according to Mysteel's latest survey.

During the survey period, Brazilian iron ore sent worldwide from the country's nine ports ended a three-week rise and slumped by 2.2 million tonnes or 26.9% on week to 5.9 million tonnes. Among the total, the volume from Vale plunged 1.9 million tonnes or 31.6% on week to 4.1 million tonnes.

Miners in Brazil generally cut their shipments in the traditional slack season for iron ore trading, Mysteel Global learned.

Over the same period, Australian iron ore shipped from its 10 domestic ports to global destinations also lost 1.7 million tonnes or 9% on week to 16.9 million tonnes, with the volume sent to its largest consumer China falling 1.1 million tonnes or 7.8% on week to 13.4 million tonnes.

Among Australia's top three miners, both BHP and Fortescue Metals Group (FMG) curtailed their shipments to China after ramping up the dispatch in the previous week. BHP saw its volume fall by a large 1.3 million tonnes or 25.8% on week to 3.8 million tonnes, and FMG's tonnage dropped 551,000 tonnes or 22.2% on week to 1.9 million tonnes.

"FMG's shipments had been disrupted by a mechanical failure in its ship loaders last week," a market analyst based in Shanghai explained.

In contrast, Rio Tinto lifted its iron ore shipments to China by 642,000 tonnes or 13.7% on week to 5.3 million tonnes during the same period.

As for this week in Australia, one berth at Port Hedland has been scheduled to undergo maintenance work for 96 hours, which is likely to reduce the country's iron ore shipments by some 181,000 tonnes during August 7-13, according to Mysteel's assessment.

After rising during the previous week, the total shipments of iron ore dispatched to global destinations from the 19 ports and 16 mining companies in Australia and Brazil dropped by a large 3.9 million tonnes or 14.4% on week to 22.8 million tonnes over July 31-August 6, with shipping volumes falling from both countries, according to Mysteel's latest survey.

After rising during the previous week, the total shipments of iron ore dispatched to global destinations from the 19 ports and 16 mining companies in Australia and Brazil dropped by a large 3.9 million tonnes or 14.4% on week to 22.8 million tonnes over July 31-August 6, with shipping volumes falling from both countries, according to Mysteel's latest survey.

During the survey period, Brazilian iron ore sent worldwide from the country's nine ports ended a three-week rise and slumped by 2.2 million tonnes or 26.9% on week to 5.9 million tonnes. Among the total, the volume from Vale plunged 1.9 million tonnes or 31.6% on week to 4.1 million tonnes.

Miners in Brazil generally cut their shipments in the traditional slack season for iron ore trading, Mysteel Global learned.

Over the same period, Australian iron ore shipped from its 10 domestic ports to global destinations also lost 1.7 million tonnes or 9% on week to 16.9 million tonnes, with the volume sent to its largest consumer China falling 1.1 million tonnes or 7.8% on week to 13.4 million tonnes.

Among Australia's top three miners, both BHP and Fortescue Metals Group (FMG) curtailed their shipments to China after ramping up the dispatch in the previous week. BHP saw its volume fall by a large 1.3 million tonnes or 25.8% on week to 3.8 million tonnes, and FMG's tonnage dropped 551,000 tonnes or 22.2% on week to 1.9 million tonnes.

"FMG's shipments had been disrupted by a mechanical failure in its ship loaders last week," a market analyst based in Shanghai explained.

In contrast, Rio Tinto lifted its iron ore shipments to China by 642,000 tonnes or 13.7% on week to 5.3 million tonnes during the same period.

As for this week in Australia, one berth at Port Hedland has been scheduled to undergo maintenance work for 96 hours, which is likely to reduce the country's iron ore shipments by some 181,000 tonnes during August 7-13, according to Mysteel's assessment.

Australian iron ore shipments to China over July 31-August 6

Written by Anthea Shi, shihui@mysteel.com

Edited by Alyssa Ren, rentingting@mysteel.com

Note: This article has been written in accordance with an article exchange agreement between Mysteel Global and SteelMint.