Australia’s iron ore export shipments inched up by a marginal 1% in Jun’21 to 75.41 mn t as compared to 74.6 mn t in May’21, according to the vessel line-up data maintained with SteelMint.
The monthly average global iron ore fines (Fe 62%) index increased to $214/tonne (t), CFR China, in Jun’21 against $207/t, CFR China, in May’21. The hike in prices was largely due to an increase in Chinese iron ore and steel futures and active demand for high-grade ore on the back of emission cuts.
Exports to China fell marginally in Jun’21
Australia’s iron ore exports to China fell marginally by 1% to 61.87 mn t in Jun’21 against 62.53 mn t in the previous month. Meanwhile, the exports from South Korea increased by 19% m-o-m in Jun’21.
Australia iron ore export shipments: May’21 v/s Apr’21
Qty in mn t
Source: SteelMint Stats, Customs
Provisional data
Shipper-wise performance:
- BHP’s shipments increased by 12% m-o-m to 33.16 mn t in Jun’21.
- Export shipments from Rio Tinto decreased from 25.69 mn t in May’21 to 23.97 mn t in Jun’21.
- FMG’s shipments also decreased from 12.53 mn t in May’21 to 10.11 mn t in Jun’21.
Exports from Port Hedland up 4% in Jun’21
In Jun’21, Port Hedland exported 49.37 mn t of iron ore against 47.5 mn t in May’21, registering a 4% rise m-o-m. Walcott accounted for 15 mn t, followed by Dampier at 8.84 mn t, Esperance at 1.23 mn t, and Geraldton at 0.83 mn t.
Long-term outlook
It is expected that iron ore exports from Australia will increase by 7.4% from 852 mn t in 2019-20 to 915 mn t by 2021-22. The anticipated increase is attributed to the commencement of new mines in the Western Australia region. Also, Australia forecasts its exports to hold up due to the strong iron ore demand in China.
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