Iron ore shipments from Australia and Brazil down 8.8% w-o-w

The total volume of iron ore dispatched to global destinations from the 19 ports and 16 mining companies in Australia and Brazil reversed down over September 14-20 after one-week gain, falling 8.8% or 2.3 million tonnes on week to 24 million tonnes, with both countries posting declines, according to Mysteel's weekly tracking.

Over the survey period, the Australian iron ore shipments from its ten ports bound for global destinations reversed down by 585,000 tonnes or 3.2% on week to 17.6 million tonnes, and Brazil shipped 6.4 million tonnes of iron ore from its nine ports worldwide, which reversed down more substantially by 1.73 million tonnes or 21.1% on week.

Over September 14-20, iron ore shipments from the smaller-scale survey of 14 ports and 12 mining companies in Australia and Brazil totalled 21.6 million tonnes worldwide, which also retreated by 11.3% or 2.8 million tonnes on week in total.

Among the 21.6 million tonnes, the volume from Australia to China reversed down by 998,000 tonnes or 7.3% on week to 12.6 million tonnes, with all the three core miners posting on-week drops.

Rio Tinto's shipments to China fell the most by 1.7 million tonnes or 31.6% on week to 3.7 million tonnes, BHP shipped 4.4 million tonnes to China, down 359,000 tonnes or 7.5% on week, and that from Fortescue Metals Group to China decreased 959,000 tonnes or 34% on week.

As for Brazil, Vale's iron ore shipment to the global destinations also reversed down by 1.6 million tonnes or 23.1% on week to 5.3 million tonnes, according to Mysteel's latest survey.

This article has been published under an article exchange agreement between Mysteel Global and SteelMint.