Global iron ore, pellets export shipments dip 3% in CY'21

The world's cumulative iron ore and pellet export shipments in CY'21 were recorded at 1,491.1 million tonnes (mn t), a marginal decrease of 3% y-o-y as compared to 1,532.2 mn t in CY'20, according to data maintained with SteelMint.

Country-wise updates

• Exports from Australia down 4% in CY'21: Australia was the top exporter at 839.4 mn t, recording a 4% y-o-y drop in export shipments in CY'21 against the previous year's 875.3 mn t. Notably, export volumes in Dec'21 stood at 65 mn t, a fall of 8% m-o-m as against 69.5 mn t in November on reduced shipments due to the Christmas holidays and berth maintenance.
  
  
• Rebound in exports from Brazil: Brazil acquired the second-largest position among the top importers' list in CY'21. The country exported 358.1 mn t of iron ore, against 342.9 mn t in CPLY. Brazilian miner Vale recorded total iron ore fines production at 89.42 mn t in Q3CY'21, up by 18% as against 75.7 mn t in Q2CY'21. The q-o-q growth is attributed to the gradual resumption of halted operations at Fabrica, seasonal improvement of weather-related conditions in the Northern System and improved performance related to better run-of-mine (ROM) availability.
  
  
• Marginal drop in exports from South Africa, Canada: Other major exporters were South Africa and Canada at 64.1 mn t and 48.5 mn t respectively.
  
  
• Exports from India drop: India exported 36.8 mn t in CY'21, a sharp decrease of 32% y-o-y as against 53.9 mn t in CY'20. In CY'20, Odisha-based miners remained active in liquidating their low-grade ore stocks. Iron ore exports from Odisha increased as 19 iron ore mining leases that were put up for auction were busy liquidating their inventories. However, this was not the case this year as majority of leases went for captive purposes.
  
  

China factor

The decline in domestic steel demand in China amidst ongoing steel production curbs, and blast furnace and sintering restrictions resulted in lower exports to the world's largest importer.

China's customs data reveals that the world's top iron ore consumer brought 1.12 bn t of the commodity last year, compared with 1.17 bn t imported in CY'20 - down nearly 4% y-o-y. China consumed iron ore at a rapid rate in H1CY'21, backed by robust steel production as mills enjoyed decent profits underpinned by a recovery in demand.