Global iron ore shipments edge higher w-o-w; Atlantic rebound offsets mild Australia easing

• Canadian, South African shipments surge on smoother logistics
• Pacific freights supported by Chinese demand, but sentiment mixed

Global iron ore export shipments rose 4.1% w-o-w to 28.7 million tonnes (mnt) in the week ended 17 April, from 27.6 mnt a week earlier, according to BigMint data. Gains were primarily driven by a strong rebound in Atlantic basin shipments, particularly from Canada and South Africa, while Australia shipments moderated slightly after last week’s surge.

Country-wise trends

Port & shipper-wise trends

• Australia: Port Hedland handled 10.68 mnt, Dampier 3.59 mnt, and Walcott 3.13 mnt. Rio Tinto exported 6.72 mnt, BHP 5.78 mnt, and Fortescue Metals 3.55 mnt, with China absorbing 13.71 mnt, followed by Japan (1.69 mnt) and South Korea (1.27 mnt).
• Brazil: Ponta da Madeira shipped 2.35 mnt, Tubarao 1.51 mnt, and Itaguai 1.33 mnt. Vale exported 3.30 mnt, while CSN shipped 3.00 mnt, with China importing 3.77 mnt.
• Canada: Sept-Iles shipped 0.93 mnt and Port Cartier 0.32 mnt, with Guinea and Nimba Mines exporting 0.58 mnt and IOC 0.36 mnt, while the Netherlands received 0.20 mnt.
• South Africa: Saldanha handled 1.18 mnt, with Japan receiving 0.25 mnt and China 0.19 mnt.
• India: Dhamra shipped 0.26 mnt and Paradip 0.24 mnt, with Rungta Sons exporting 0.17 mnt, while China imported 0.18 mnt.
• Chile: Huasco handled 0.35 mnt.
• Peru: San Nicolas shipped 0.35 mnt and Matarani 0.10 mnt, with Shougang Hierro exporting 0.35 mnt, while China imported 0.35 mnt.

Bulk iron ore freights show mixed trends

Freights remained mixed w-o-w, with the Pacific rates supported by steady Chinese demand and stronger fixture activity, particularly for iron ore cargoes, while sentiment stayed cautious. The Atlantic basin remained balanced, as improved cargo availability from Canada and South Africa offset demand uncertainty, with ample vessel supply capping further gains.

Outlook

Shipments are expected to remain supported by steady Australian volumes and improved Atlantic flows, though ongoing maintenance in the Pilbara and structural logistics constraints in parts of the Atlantic basin may keep movements uneven. Freight sentiment is likely to stay mixed, with China-led demand and fixture activity offering support, while vessel oversupply continues to cap upside.