- Indian exports surge as policy rumours deepen
- Australian exports rise amid Chinese restocking
Iron ore exports from major producing regions displayed mixed trends in September 2025, though overall volumes remained healthy. India’s shipments jumped 143% m-o-m as supply gradually recovered post-monsoon, while exporters rushed to book cargoes amid rumours of export duty in September. South Africa and Brazil exports witnessed a drop in volumes in September.
India’s exports surge by 143% m-o-m
India’s iron ore and pellet exports rebounded by 143.4% m-o-m to 2.02 million tonnes (mnt) in September from 0.83 mnt in August. Moreover, shipments saw an increase of 22.4% against 1.65 mnt in the year-ago period.
China remained the largest importer with 1.16 mnt, followed by Malaysia with 0.16 mnt.
Panic selling by exporters amid uncertainty over export duty revisions led to rushed order bookings, boosting volumes. Additionally, the export recovery was driven by strong Chinese restocking ahead of the Golden Week holidays.
Australia’s exports edge 9% higher m-o-m
Australia’s iron ore and pellet export shipments stood at 79 mnt in September, up 8.6% against 72.9 mnt in August, according to vessel line-up data compiled by BigMint.
China remained the top importer, receiving 66.9 mnt (8.9% higher m-o-m), followed by South Korea with 4.9 mnt and Japan at 4.4 mnt.
Rio Tinto was the leading exporter with 28.9 mnt (up by 4% m-o-m), trailed by BHP at 23.7 mnt and FMG at 19.3 mnt.
Strong Chinese restocking activity was the key driver behind the increased volumes, though buyers remained cautious overall.
Additionally, improved vessel clearances at major Pilbara ports, including Port Hedland, boosted volumes. Meanwhile, lower Pacific freights also lent support, helping miners sustain strong shipment levels.
China Mineral Resources Group (CMRG) has reportedly instructed major steelmakers and traders to halt all purchases of new BHP cargoes due to price disputes. This may lead to a drop in export volumes in the coming month.
Exports from Brazil drop by 15% m-o-m
Brazil’s iron ore exports fell by 14.7% to 36.19 mnt in September against 42.46 mnt in the previous month. However, exports rose by 11.3% from 32.51 mnt in September 2024.
China remained the largest importer, taking in 23.7 mnt, followed by Malaysia at 2.2 mnt and Bahrain at 0.87 mnt.
Brazil’s exports faced pressure as weak steel demand and limited vessel availability curbed shipments. Exporters also stayed cautious on long-term freight amid rate swings, keeping overall export activity subdued through the month.
South African exports dipped 5% m-o-m
South Africa’s iron ore exports fell by 4.8% to 4.97 mnt in September compared to 5.22 mnt in August, as per vessel line-up data maintained by BigMint. Moreover, export volumes remained largely stable against 5.01 mnt in September 2024.
China remained the leading importer with 1.82 mnt (41.8% drop m-o-m), followed by the Netherlands at 0.36 mnt.
Exports were slowed by logistical delays and transport challenges, while cautious buyers and wider price gaps kept trading subdued despite steady demand.
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