Iron ore shipments from Australia and Brazil at a 10-month low

The total volume of iron ore dispatched to global destinations from the 19 ports and 16 mining companies in Australia and Brazil fell for the third week over January 11-17, or down another 1.5 million tonnes or 6.6% on week to around 21.3 million tonnes, or a new 10-month low, mainly due to the fact that the Australian shipments fell to its 11-month low, which offset the rise in the Brazilian tonnage, according to Mysteel’s latest survey.

Over the survey period, Australian iron ore shipments from its ten ports bound for global destinations thinned for the third week, down another 2.5 million tonnes or 14% on week to 15.3 million tonnes, while Brazil shipped 6 million tonnes of iron ore from its nine ports worldwide, or reversing up after two weeks of dips by 1 million tonnes or 20% on week.

Over January 11-17, iron ore shipments from the smaller-scale survey of 14 ports and 12 mining companies in Australia and Brazil global destinations also slipped for the third week, or down 1.3 million tonnes or 6% on week to 19.5 million tonnes, also its 10-month low.

Among the total volume for the smaller-scale survey, the tonnage from Australia to China decreased for the third week by 1.3 million tonnes or 9.6% on week to 12.3 million tonnes, though the country’s top three iron ore miners’ performance varied, according to the survey.

Iron ore from Rio Tinto to China declined for the third week by 517,000 tonnes or 10.4% on week, and BHP’s tonnage to China retreated after a one-week gain by 853,000 tonnes or 16.4% on week, while that from Fortescue Metals Group recovered from two weeks of drops, gaining 226,000 tonnes or 7.8% on week.

As for Brazil, Vale’s iron ore shipment to global destinations rebounded after a one-week decline, up significantly by 1.7 million tonnes or 46% on week to 5.5 million tonnes, Mysteel’s latest survey showed.

Over January 18-24, Australia and Brazil will conduct a series of scheduled maintenance including Port Walcott and Port Hedland in Australia, both for 96 hours, and Port Tubarao and Port da Madeira in Brazil for 168 hours and 96 hours respectively.

Written by Li Ye, liye@mysteel.com

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