Global iron ore shipments rise by over 2% w-o-w on stronger Australia, West Africa flows

• Australian exports rise by over 6% w-o-w on stronger Pilbara loading activity
• Guinea, Liberia shipments increase, supporting higher West African volumes

Global seaborne iron ore shipments rose 2.3% w-o-w to 31.4 million tonnes (mnt) in the week ended 18 September, from 30.7 mnt a week earlier. Firmer shipments from Australia, Peru, Guinea, Liberia and Mauritania offset weaker flows from Canada, South Africa, India, Sierra Leone, Norway and Sweden, while Brazil remained broadly stable.

Australia led the weekly gains on firmer Pilbara loading, while Guinea and Liberia recorded stronger West African flows. Peru shipments also strengthened on higher Shougang-linked activity. Canada and South Africa saw softer shipments amid operational and rail-side constraints.

Country-wise exports

Port & shipper-wise trends

• Australia: Hedland led shipments at 12.1 mnt, followed by Walcott at 3.5 mnt and Dampier at 3.4 mnt. Rio Tinto was the largest shipper at 6.9 mnt, followed by BHP at 5.9 mnt and FMG at 4.9 mnt. China remained the key destination at 16.1 mnt.
• Brazil: Ponta da Madeira led at 2.8 mnt, followed by Tubarao at 1.6 mnt and Itaguai at 1.4 mnt. Vale accounted for 3.1 mnt, while CSN and Vale shipped 2.9 mnt. China received 4.0 mnt.
• Canada: Sept-Iles led at 0.6 mnt, followed by Milne Inlet at 0.6 mnt and Port Cartier at 0.2 mnt. Baffinland and Guinea and Nimba Mines each shipped 0.6 mnt, while the Netherlands and China were the key destinations.
• South Africa: Saldanha handled 1.0 mnt, with China receiving 0.8 mnt and South Korea 0.2 mnt.
• India: Paradip led at 0.1 mnt, followed by Kakinada at 0.1 mnt. Rungta Mines shipped 0.1 mnt, followed by Lloyds Metals and Energy at 0.1 mnt. Malaysia and China were the key destinations.
• Chile: Totoralillo handled 0.2 mnt, with the entire volume destined for China.
• Peru: San Nicolas handled 0.5 mnt, all destined for China. Shougang Hierro accounted for the entire reported volume.
• Guinea: Morebaya handled 0.8 mnt, with China receiving 0.2 mnt.
• Liberia: Buchanan handled 0.4 mnt during the week.
• Sierra Leone: Freetown handled 0.2 mnt during the week.
• Norway: Mo I Rana handled 0.01 mnt during the week.
• Mauritania: Nouadhibou handled 0.4 mnt, with China receiving 0.2 mnt.
• Sweden: Narvik handled 0.2 mnt during the week.

Capesize Atlantic freights firm; Pacific rates soften

Capesize freight markets remained mixed, with Atlantic rates firming on tighter prompt tonnage and steady cargo activity, particularly on Brazilian and South African routes, while Australia-China rates softened amid calmer weather, weaker fixing activity and improved vessel availability.

Overall vessel segments remained broadly firm, supported by bunker prices and vessel-hire costs, with vessel availability and cargo enquiries emerging as key near-term market drivers. The Baltic Dry Index declined 5% w-o-w, led by an 8% fall in the Capesize Index, while DCE iron ore futures remained under pressure from weak steel margins despite pre-holiday Chinese restocking.

Outlook

Global shipments are likely to remain mixed, with Australia and West Africa supporting volumes, while rail and operational constraints could keep Canada and South Africa volatile. Atlantic freight is likely to remain supported by tighter tonnage and steady cargo activity, while softer Pacific enquiries and cautious Chinese buying could limit upside.