Australian, Brazilian iron ore shipments fall 6% w-o-w

The total shipments of iron ore dispatched to global destinations from the 19 ports and 16 mining companies in Australia and Brazil retreated by 1.8 million tonnes or 6.4% on week to reach 26.8 million tonnes over June 19-25, after hitting a two-and-half-year high in the previous week, Mysteel's latest survey showed. The shipment reduction from Australia was to blame for the decline overall, the data suggested.

During the survey period, Australian ore shipped worldwide reversed down from the prior week's jump and slumped to 18.2 million tonnes, lower by 3.1 million tonnes or 14.4% on week. Among the total, the shipments sent to the country's largest consumer China also dropped by a large 2.5 million tonnes or 13.8% on week to 15.5 million tonnes.

Australia's top three miners all curtailed their iron ore shipments to China last week, Mysteel's survey showed.

Specifically, the shipments from Rio Tinto and BHP both decreased after surging in the prior week, with the former's volume plunging 1.1 million tonnes or 17.5% on week to 5 million tonnes, and the latter's tonnage falling 561,000 tonnes or 9.8% on week to 5.2 million tonnes. Meanwhile, the shipments from Fortescue Metals Group slid for the third straight week by another 468,000 tonnes or 13.4% on week to 3 million tonnes.

In contrast, Brazilian iron ore shipped from its nine ports to global destinations increased significantly by 1.2 million tonnes or 16.6% on week to 8.6 million tonnes, with the volume from Vale jumping 1.2 million tonnes or 22.7% on week to 6.7 million tonnes.

As for this week in Australia, Port Geraldton has completed its maintenance, and all the 10 ports in the country will operate normally during June 26-July 2, according to Mysteel's tracking.

Australian iron ore shipments to China over June 19-25

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.