The total volume of iron ore shipments dispatched to global destinations from the 19 ports and 16 mining companies in Australia and Brazil under Mysteel’s tracking recovered from the prior week’s drop and increased by a large 4.2 million tonnes or 20.4% on week to 24.8 million tonnes during February 12-18, with the shipping volumes rising from both countries, the survey showed.
During the latest survey period, Brazilian iron ore shipped worldwide from the country’s nine ports rebounded by a remarkable 1.8 million tonnes or 30.7% on week to reach 7.5 million tonnes after slumping in the prior week, while the volume from Vale also increased by 741,000 tonnes or 16.5% on week to 5.2 million tonnes.
Over the same period, Australia’s iron ore shipped from its 10 domestic ports to global destinations reversed too from the previous week’s decline and climbed 2.4 million tonnes or 16.4% on week to hit 17.3 million tonnes, with the shipments sent to the country’s largest iron ore consumer China jumping 2.7 million tonnes or 20.8% on week to reach 15.6 million tonnes.
Among Australia’s top three miners, both Rio Tinto and BHP lifted their iron ore shipments to China last week, with the former’s volume rising 1.1 million tonnes or 28.7% on week to 5.1 million tonnes, and the latter’s tonnage higher by 985,000 tonnes or 23.7% on week to 5.1 million tonnes, Mysteel’s survey showed.
In contrast, Fortescue Metal’s Group reduced its shipping volume to China by 203,000 tonnes or 5.7% from the previous week to 3.4 million tonnes. A derailment accident on a train of the company caused some disruptions to the company’s iron ore transportation last week, though the impact is limited, Mysteel Global learned.
As for the week over February 19-25, one berth at Australia’s Port Geraldton has been scheduled to undergo maintenance works, but it may not impact the country’s overall iron ore shipments this week, according to Mysteel’s tracking.
Australian iron ore shipments to China over February 12-18
Note: This article has been written in accordance with an article exchange agreement between Mysteel Global and SteelMint.