Global iron ore shipments rebound to 8-week high as Atlantic flows strengthen

• Brazil, Peru and Canada drive stronger Atlantic shipments
• Australia, India and Liberia cap broader export gains

Global seaborne iron ore shipments rebounded 3.2% w-o-w to 31.9 mnt in the week ended 28 August, an eight-week high, from 30.9 mnt a week earlier. Stronger Atlantic flows from Brazil, Peru, Canada and South Africa offset softer shipments from Australia, India and Liberia.

Brazil led the recovery among major exporters, while Peru posted a sharp rebound on stronger San Nicolas activity. Canada and South Africa also recorded firmer flows. Australia remained the largest supplier despite softer shipments, while Guinea’s Simandou ramp-up continued to build export momentum. India’s exports, meanwhile, remained subdued amid tighter scrutiny of iron ore grades in Odisha.

Country-wise exports



Port & shipper-wise trends

• Australia: Hedland handled 10.2 mnt, followed by Walcott (3.9 mnt) and Dampier (3.3 mnt). Rio Tinto led shipments at 7.2 mnt, followed by BHP (6.1 mnt) and Fortescue (3.2 mnt). China remained the largest destination at 14.7 mnt, followed by South Korea (1.5 mnt) and Japan (1.1 mnt).
• Brazil: Ponta da Madeira handled 3.0 mnt, followed by Tubarao (2.0 mnt) and Itaguai (1.7 mnt). Vale and CSN led shipments at 3.8 mnt each, while China remained the key destination at 3.4 mnt.
• Canada: Sept-Iles handled 1.0 mnt, followed by Milne Inlet (0.4 mnt) and Port Cartier (0.3 mnt). Guinea & Nimba Mines accounted for 0.5 mnt, followed by IOC (0.4 mnt). The Netherlands received 0.6 mnt.
• Chile: Totoralillo handled 0.2 mnt, with the entire shipment destined for China.
• Guinea: Morebaya handled 0.8 mnt, with the entire shipment destined for China.
• India: Paradip handled 0.1 mnt, with Qatar and China receiving 0.1 mnt each. Starlight, Rungta Mines and Bagadiya each accounted for 0.1 mnt.
• Liberia: Buchanan handled 0.1 mnt, with the entire shipment destined for France.
• Mauritania: Nouadhibou handled 0.2 mnt, with Mauritius receiving the entire cargo.
• Norway: Mo I Rana handled 0.1 mnt, with the entire shipment destined for the Netherlands.
• Peru: San Nicolas handled 0.7 mnt, followed by Matarani at 0.1 mnt. Shougang Hierro accounted for 0.7 mnt, with China receiving 0.6 mnt.
• Sierra Leone: Freetown handled 0.2 mnt during the week.
• South Africa: Saldanha handled 1.1 mnt, followed by Richards Bay at 0.2 mnt. China received 0.5 mnt, followed by the Netherlands at 0.2 mnt.
• Sweden: Narvik handled 0.2 mnt during the week.

Iron ore freight market firms on tighter tonnage

Iron ore freight markets firmed during the week, supported by tighter vessel availability and healthier cargo activity across key Pacific and Atlantic routes. Capesize sentiment strengthened as miner and operator demand improved, while Supramax activity remained relatively subdued. Firmer freight sentiment was also aided by better Chinese buying interest, although mixed steel fundamentals continued to limit the upside.

Outlook

Global iron ore shipments are likely to remain firm but uneven, with Australia anchoring seaborne supply and Brazil and Guinea adding volumes as Simandou ramps up. Freight markets should retain a firm undertone on seasonal cargo activity and tighter prompt tonnage, although elevated Chinese inventories and weak steel margins could limit gains.

Overall, stronger Atlantic flows and growing Guinea supply should keep exports firm, while softer Australian and Indian shipments limit the upside.