- Iron ore demand slows amid trade wars
- India’s exports slump 37% on subdued demand
Iron ore exports from key geographies showed slight decreases m-o-m in April 2025. Shipments from Australia, South Africa and India dropped, while those from Brazil were stable.
Australia sees 8% drop
Australian iron ore and pellet export shipments declined by 7.8% to 69.9 million tonnes (mnt) in April 2025 from 75.8 mnt in March, as per vessel line-up data maintained with BigMint.
China was the leading importer, lifting 60 mnt, followed by Japan at 3.9 mnt and South Korea at 3.6 mnt.
Rio Tinto led the exports with 23.6 mnt, closely followed by BHP at 23 mnt.
The decline in monthly export volumes coincided with a sharp escalation in China-US tariff tensions, which significantly impacted market sentiment. The buyers became cautious as the future market direction remained unclear prompting many to delay or scale back their procurement decisions.
Shipments from Brazil relatively firm
Brazil’s iron ore exports fell marginally by 1.28% m-o-m to 30.72 mnt in Apr’25, compared to 31.12 mnt in Mar’25. However, the figures have improved by 14% against 26.93 mnt in the same period year ago.
China remained the top importer, taking 17.53 mnt, followed by Malaysia at 1.52 mnt and Oman at 1.21 mnt.
Shipments remained relatively stable as the decline in demand from China – the world’s largest iron ore consumer – was partly balanced by steady bookings from alternative markets and a preference for higher-grade materials. Increased buying interest from countries such as Malaysia, Oman, the United States, and others helped cushion the overall impact.
South African exports drop 16%
Iron ore exports in South Africa fell around by 16% m-o-m to 4.3 mnt in Apr’25, compared to 5.13 mnt in March this year, as per vessel line-up data maintained by BigMint.
China was the largest importer (2.08 mnt), followed by The Netherlands (0.46 mnt) and South Korea (0.18 mnt).
Comparing on a y-o-y basis the figures have dropped by 10% as against 4.77 mnt in Apr’24.
South African iron ore shipments declined as buyers grew cautious, holding back on fresh bookings amid unclear market sentiment and ambiguous policy signals. The trend reflected a broader ‘wait-and-watch’ approach as participants awaited greater clarity in the trade environment.
India’s exports down 37%
India’s iron ore and pellet exports witnessed a sharp 37% decrease, to 1.96 mnt in Apr’25 from 3.13 mnt in the last month.
China remained the largest importer with 1.44 mnt, followed by Malaysia with 0.22 mnt.
Also, the shipments saw a decline of 19.6% against 2.44 mnt in April 2024.
The surge in early Q1 exports was primarily driven by aggressive restocking by Chinese mills ahead of the Lunar New Year holidays. However, this momentum experienced a sharp slowdown following announcements related to China-US trade tensions. Despite this, export figures found some support from strong bookings from Malaysia, which outperformed the volumes recorded in the initial months of Q1 CY’25.
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