- India’s exports rise 35% m-o-m but decline 46% y-o-y
- China eyes lower grade imports to protect margins
Global iron ore exports from major producing regions increased in May 2025, as miners ramped up shipments. Exports from Australia, South Africa, Brazil, and India all recorded gains on an m-o-m basis, driven by improved capacity utilisation and stronger buying interest in key markets.
Australia’s exports rise 10% amid stronger buying interest
Australia’s iron ore and pellet export shipments rose by 10% to 76.7 million tonnes (mnt) in May from 69.8 mnt in April, according to vessel line-up data compiled by BigMint.
China remained the top importer, receiving 64.3 mnt, followed by South Korea with 5.6 mnt and Japan at 3.4 mnt.
BHP emerged as the leading exporter with 25.2 mnt (a new high considering its own past deliveries), closely trailed by Rio Tinto at 24.5 mnt.
The uptick was driven by steady demand from Chinese buyers, with increased focus on stocking low- and mid-grade fines, as mills sought more affordable feed options to safeguard margins. Trades for high-grade fines remained limited in comparison.
Export shipments from Brazil increase m-o-m
Brazil’s iron ore exports climbed up by 16% m-o-m to 35.62 mnt in May, compared to 30.72 mnt in April. On a y-o-y basis, exports rose sharply by 18% from 30.27 mnt in May 2024.
China remained the largest importer, taking in 20.03 mnt, followed by Malaysia at 1.58 mnt and The Netherlands at 1.35 mnt.
Brazil’s iron ore shipments remained robust in May, supported by a gradual recovery in Chinese demand, the world’s largest consumer, and consistent bookings from other buyers. Seasonal factors and improved port logistics further aided the rebound in export volumes. Moreover, the dip in iron ore prices too led the increase in orders from mills.
South African iron ore exports rise 15% m-o-m, slip y-o-y
South Africa’s iron ore exports rose by 15% m-o-m to 4.94 mnt in May from 4.3 mnt in April, as per vessel line-up data maintained by BigMint. Despite the monthly gain, export volumes were down 9% y-o-y, compared to 5.41 mnt in May 2024.
China remained the leading importer with 2.53 mnt, followed by The Netherlands at 0.41 mnt and Slovenia at 0.33 mnt.
South Africa’s iron ore exports increased recently, aided by smoother logistics at Richards Bay, a weaker currency, and steady demand from China, South Korea, and Slovenia. Normalised logistics operations following maintenance of railway lines, etc. also supported the rise, but, overall, the uptick reflects the influence of short-term factors rather than a structural shift.
India’s exports surge by 35% as diverse buyers emerge
India’s iron ore and pellet exports witnessed a sharp 34.5% increase m-o-m to 2.26 mnt in May from 1.68 mnt in April. However, shipments saw a decline of 46% against 4.17 mnt in the year-ago period.
China remained the largest importer with 1.68 mnt, followed by Malaysia with 0.28 mnt.
The sudden monthly increase was primarily driven by higher exports to Malaysia. Additionally, demand for shipments from east coast ports surged, further supporting the uptick in exports. However, the broader trend remains subdued due to reduced demand from China and a global steel market slowdown.
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