Iron ore export shipments from Western Australia’s Port Hedland – world’s largest bulk export terminal have climbed to all time high in Jun’16 since beginning of 2014.
The volume of exports from Port Hedland increased by 6% M-o-M from 39.4 MnT in May’16 to 41.8 MnT in Jun’16. However, on yearly premises, exports are up by 9% in Jun’16 as the figure was 38.3 MnT in the same month last year.
In Jun’16, Port Hedland shipped around 83% share (34.5 MnT) iron ore to China. However, exports to China has increased by 9% M-o-M as it was 31.6 MnT in May’16.
Share of other major destinations were as follows – South Korea (3 MnT) and Japan (2.4 MnT) and Taiwan (0.8 MnT).
Port Hedland exported 229 MnT iron ore in H1 2016
Iron ore export from Port Hedland summed up to 229 MnT in first half of 2016, up 3.6% Y-o-Y. Rising iron ore export shipments are continuously pressurizing iron ore prices.
Australian government slashed iron ore price outlook for 2016 and 2017
Australia’s Department of industry, innovation and science expects iron ore prices to average USD 44.2/MT in 2016 against its previous forecast of USD 45/MT. Iron ore price outlook for 2017 has also been cut from previous forecast of USD 56/MT to USD 44.8/MT.
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