Australian, Brazilian iron ore shipments dip 1% w-o-w

After jumping in the previous week, the total volume of iron ore dispatched to global destinations from the 19 ports and 16 mining companies in Australia and Brazil had dipped 245,000 tonnes or 1% on week to 24.8 million tonnes over May 22-28, according to Mysteel's latest survey. The reduction of shipping volume from Australia was to blame for the decline, the data showed.

During the survey period, Australian iron ore shipped worldwide from its 10 ports dropped by a large 1.4 million tonnes or 7.8% on week to 17 million tonnes after rising in the prior week, with the volume sent to the country's largest consumer China reversing from the previous week's increase and slumping 2.1 million tonnes or 13.5% on week to 13.6 million tonnes.

Australia's top three miners all reduced their iron ore shipments to China last week, according to the survey. Rio Tinto curtailed its shipping volume by a significant 2.7 million tonnes or 44.3% on week to 3.4 million tonnes, BHP cut its shipments by 374,000 tonnes or 8% on week to 4.3 million tonnes, and the tonnage sent from FMG decreased for the second straight week by another 523,000 tonnes or 14% on week to 3.2 million tonnes.

In contrast, Brazilian ore shipped from the country's nine ports to global destinations had increased for the second straight week by another 1.2 million tonnes, or jumping 17.9% on week to reach a more than four-month high of 7.8 million tonnes. Among the total, the volume sent from Vale also climbed for the second consecutive week by 225,000 tonnes on week to 5.3 million tonnes.

As for this week, all the 10 ports in Australia have completed their maintenance work and will operate normally over May 22-28, according to Mysteel's tracking.

Australian iron ore shipments to China over May 22-28

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.