Global iron ore exports remain largely stable w-o-w

• Brazil drag offsets gains from smaller exporters
• Australian shipments stable but risks from cyclone loom

Global iron ore export shipments remained largely stable w-o-w at 27.7 million tonnes (mnt) in the week ended 20 March, compared with 27.8 mnt in the previous week, according to BigMint vessel-line up data. Gains in India, Chile, and Peru were offset by declines in Brazil, Canada, and South Africa, while Australia recorded a moderate increase supported by improved port loadings.

Country-wise trends

Port & shipper-wise trends

• Australia: Port Hedland handled 12.7 mnt, Walcott 3.7 mnt, and Dampier 3.0 mnt. Rio Tinto exported 6.7 mnt, BHP 6.2 mnt, and FMG 4.7 mnt, with China absorbing 16.4 mnt.
• Brazil: Tubarao shipped 1.4 mnt, Ilha Guaiba 1.1 mnt, and Ponta da Madeira 1.0 mnt. CSN exported 2.1 mnt, while Vale shipped 2.1 mnt, with China importing 2.8 mnt.
• Canada: Sept-Iles shipped 0.7 mnt, with IOC exporting 0.5 mnt and AMNS 0.3 mnt.
• South Africa: Saldanha handled 0.9 mnt, with the Netherlands receiving 0.4 mnt.
• India: Dhamra shipped 0.3 mnt and Paradip 0.1 mnt, with China importing 0.4 mnt.
• Chile: Huasco shipped 0.2 mnt and Totoralillo 0.2 mnt, with China importing 0.4 mnt.
• Peru: San Nicolas shipped 0.2 mnt, with Shougang Hierro exporting 0.2 mnt.

Bulk iron ore freights show mixed trends

Dry bulk iron ore freight rates remained mixed w-o-w amid limited fresh enquiry and cautious chartering activity. The Pacific market stayed largely stable on steady Australia-China flows, while the Atlantic showed relative resilience on the Brazil-China route, supported by longer tonne-mile demand. However, overall sentiment remained under pressure due to ample vessel availability and bunker price volatility.

Outlook

Iron ore shipments are expected to remain broadly stable in the near term, supported by steady Australian export flows. However, risks persist from potential weather disruptions in the Pilbara due to Tropical Cyclone Narelle and ongoing maintenance activities. Freight sentiment is likely to remain cautious.