Global iron ore exports rise by 6% w-o-w as Australia, Canada offset Brazil decline

• Australian exports surge 19%, but labour disruptions keep near-term supply risks alive
• Brazil’s shipments fall by 22% on softer loading activity despite steady mining operations

Global seaborne iron ore exports rose 5.5% w-o-w to 31.5 million tonnes (mnt) in the week ended 7 August, as improved shipments from Australia, Canada, India, and smaller exporters offset softer flows from Brazil, South Africa, Peru, and Guinea.

Australia led the recovery, supported by firmer Pilbara loadings, while Canada and India also posted stronger shipments. Liberia, Mauritania, Sweden, Norway and Chile contributed to the overall gain. Meanwhile, Brazil recorded a pullback after a strong previous week.

Country-wise exports

Port & shipper-wise trends

• Australia: Port Hedland handled 10.79 mnt, followed by Port Walcott (3.73 mnt) and Dampier (2.87 mnt). Rio Tinto led at 6.60 mnt, followed by BHP (6.15 mnt) and FMG (3.56 mnt). China remained the top destination at 15.39 mnt.
• Brazil: Ponta da Madeira handled 3.27 mnt, followed by Itaguai (1.78 mnt) and Tubarao (1.24 mnt). Vale led shipments at 4.25 mnt, while China received 5.09 mnt.
• Canada: Sept-Iles handled 0.77 mnt, followed by Milne Inlet (0.51 mnt). Baffinland led at 0.51 mnt, while China received 0.36 mnt.
• South Africa: Saldanha handled 1.07 mnt, with China receiving 0.37 mnt.
• India: Dhamra handled 0.32 mnt, followed by Paradip (0.24 mnt). OCL Iron led at 0.13 mnt, followed by Rungta Mines (0.12 mnt). China received 0.23 mnt.
• Chile: Caldera handled 0.20 mnt, all destined for China.
• Peru: San Nicolas handled 0.34 mnt, with Shougang Hierro shipping the entire volume to China.
• Guinea: Morebaya handled 0.58 mnt, with China receiving 0.38 mnt.
• Liberia: Buchanan handled 0.35 mnt, remaining the country’s sole export terminal.
• Mauritania: Nouadhibou handled 0.30 mnt, remaining the country’s sole export terminal.
• Sierra Leone: Freetown handled 0.17 mnt, with the entire volume shipped to China.
• Norway: Mo i Rana handled 0.07 mnt, with the Netherlands receiving the entire volume.
• Sweden: Narvik handled 0.39 mnt, with the Netherlands receiving 0.10 mnt.

Freight market firms on active fixtures; Brazil-Qingdao nears two-month high

Dry bulk iron ore freights strengthened during the week, supported by active fixtures and firmer Atlantic activity, with Brazil-Qingdao approaching a two-month high. Stronger Brazil-China cargo movement supported Capesize sentiment, while tighter prompt tonnage helped owners maintain firmer offers.

Outlook

Global iron ore exports are expected to remain firm in the near term, supported by steady shipments from Australia, Canada, and India. However, unresolved wage negotiations at BHP’s Port Hedland operations remain a potential risk to Australian flows, with talks scheduled to resume next week. Freights are likely to retain a firm tone if Brazil-China fixtures remain active, while Pacific sentiment will depend on Chinese iron ore demand and fresh cargo enquiries.