Global iron ore shipments edge up w-o-w as Atlantic flows strengthen

• Brazil, India, Chile and Liberia support firmer global shipments
• South Africa, Peru and Canada weigh on broader export growth

Global seaborne iron ore shipments edged up 0.5% w-o-w to 32.1 million tonnes (mnt) in the week ended 4 September, from 31.9 mnt a week earlier. Firmer flows from Brazil, Guinea, Liberia, Mauritania, India, Chile and Sweden offset softer shipments from South Africa, Peru, Canada and Australia.

Brazil remained the key driver among major exporters, supported by healthy Vale operations, while Guinea’s Simandou ramp-up continued to build momentum. Liberia also rebounded on stronger ArcelorMittal activity. South Africa recorded softer Saldanha loadings, while Peru saw shipments retreat after a strong prior week.

Country-wise exports

Port & shipper-wise trends

• Australia: Hedland handled 10.8 mnt, followed by Dampier (3.6 mnt) and Walcott (3.0 mnt). Rio Tinto led shipments at 6.6 mnt, followed by BHP (6.2 mnt) and Fortescue Metals (3.2 mnt). China remained the largest destination at 15.0 mnt, followed by South Korea (1.2 mnt) and Japan (0.8 mnt).
• Brazil: Ponta da Madeira handled 2.8 mnt, followed by Itaguai (2.3 mnt) and Tubarao (1.7 mnt). CSN led shipments at 4.0 mnt, followed by Vale (3.6 mnt), while China received 4.4 mnt.
• Canada: Sept-Iles handled 0.8 mnt, followed by Milne Inlet (0.5 mnt). Guinea & Nimba Mines accounted for 0.5 mnt, followed by Baffinland (0.5 mnt). China received 0.4 mnt, followed by France at 0.2 mnt.
• South Africa: Saldanha handled 0.9 mnt, with China receiving 0.4 mnt.
• India: Dhamra handled 0.1 mnt, followed by Kandla (0.1 mnt) and Paradip (0.1 mnt). Bahrain received 0.1 mnt, followed by China at 0.1 mnt. Orissa Metaliks accounted for 0.1 mnt, followed by KIOCL at 0.1 mnt.
• Chile: Totoralillo and Huasco handled 0.2 mnt each, with China receiving the entire 0.4 mnt shipment.
• Peru: San Nicolas handled 0.2 mnt, with Shougang Hierro accounting for the same. China received 0.2 mnt.
• Guinea: Morebaya handled 1.0 mnt, with the entire shipment destined for China.
• Liberia: Buchanan handled 0.3 mnt, with Poland receiving 0.1 mnt.
• Sierra Leone: Freetown handled 0.2 mnt during the week.
• Norway: Mo I Rana handled 0.1 mnt during the week.
• Mauritania: Nouadhibou handled 0.4 mnt, with China receiving 0.2 mnt and Algeria 0.2 mnt.
• Sweden: Narvik handled 0.3 mnt, with Turkey receiving 0.2 mnt.

Capesize rates reach record highs on key Pacific, Atlantic routes

Dry bulk iron ore freight rates strengthened sharply in the week ended 3 September, led by a strong Capesize rally as firm cargo activity, heavy C3 fixing and tighter vessel availability lifted rates across major basins. Hedland-Qingdao and Tubarao-Qingdao reached record highs since BigMint began tracking, while Saldanha Bay-Qingdao and Paradip-Qingdao also firmed.

Weather disruptions, longer vessel positioning, active miner demand and higher bunker costs further supported freight, although cautious Chinese steel demand and mixed mill margins could limit further gains.

Outlook

Global iron ore shipments are likely to remain firm but mixed, with Brazil and Guinea supporting supply, while softer Australian, South African and Peruvian flows could temper overall growth. Simandou’s ramp-up and ongoing logistics constraints will remain key market drivers.

Freight markets should retain a firm undertone on active Capesize fixing, tight prompt tonnage and elevated voyage costs, although cautious Chinese buying and subdued steel margins could limit further gains. Overall, firm Atlantic flows and tighter tonnage should keep both shipments and freight markets supported.