Australia iron ore exports up 8%, q-o-q, in Q2CY’22 on improved Chinese buying

Australia’s iron ore (including pellet) export shipments witnessed an increase of 8% in Q2CY’22 to 217.07 million tonnes (mnt) compared to 201.69 mnt in Q1CY’22, as per vessel line-up data maintained with SteelMint.

On a monthly basis, exports inched up by 4% in June to 75.83 mnt compared to 73.18 mnt in May.

Exports to China up 7%

China remained the top importer of iron ore from Australia by transacting 182.94 mnt, up by 10% on a quarterly basis. China’s iron ore sourcing probably increased as COVID-19 restrictions eased in that country.

Japan was the second-largest among the importers in Q2. The country imported 13.19 mnt of iron ore from Australia. The third largest importer was South Korea at 11.85 mnt.

Shipper-wise exports- BHP’s shipments stood at 89.12 mnt for the June quarter followed by Rio Tinto and Fortescue Metals at 74.77 mnt and 32.58 mnt, respectively.

Rio Tinto, on the other hand, exported the highest quantity of iron ore in June at 27.18 mnt.

Karara Mines, Koolyanobbing Mines and PPA Authority were a few new shippers added in June that were previously described as N/A.

Exports from Port Hedland up q-o-q- Port Hedland exported 137.24 mnt of iron ore in the quarter under review, moving up by 6% q-o-q compared to 129.06 mnt in the previous quarter. Exports from Port Walcott stood at 43.57 mnt, followed by Port Dampier at 31.2 mnt.

Furthermore, Port Latta witnessed iron ore pellet movements in Q2 at 717,600 t.

According to the quarterly outlook report by the Australian government’s department of Industry, Innovation & Science, the global seaborne iron ore market is expected to remain relatively balanced in 2022. However, supply chain disruptions and inflationaly pressures present a growing risk to steel demand growth.

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