- Australia sees 12.7% fall over weather-induced disruptions
- India’s exports rise 32% amid strong demand from China
Iron ore exports from key regions showed mixed trends q-o-q in Q1CY’25. Shipments from Australia and Brazil dropped, while those from South Africa and India increased.
Australia sees over 12% drop amid weather-related disruptions
Australian iron ore and pellet export shipments declined by 12.7% to 192.6 million tonnes (mnt) in Q1CY’25 from 220.5 mnt in Q4CY’24, as per vessel line-up data maintained with BigMint.
China was the leading importer, lifting 160.5 mnt, followed by South Korea at 11.7 mnt and Japan at 10.9 mnt.
Rio Tinto was the leading exporter with 66 mnt, followed by BHP at 62.5 mnt.
The overall q-o-q dip was largely driven by February’s weather-induced disruptions, which affected mining and port activity. However, March 2025 saw a notable recovery, with ports and production resuming normal operations. Exports surged towards the quarter-end, as Chinese steel mills stepped up purchases, responding to improved supply conditions and a desire to lock in cargoes amid speculation over future tariff-related developments.
Shipments from Brazil shrink by 16%, impacted by seasonal rains
Brazil’s iron ore exports fell by 16.3% q-o-q to 84.71 mnt in Q1CY’25, compared to 101.3 mnt in Q4CY’24. However, volumes rose 5.6% y-o-y against 80.21 mnt in the corresponding period last year.
China remained the top importer, taking 54.9 mnt, followed by Malaysia at 4.36 mnt and Oman at 3.09 mnt.
The q-o-q decline was largely driven by seasonal rains in mining hubs such as Minas Gerais, which hampered production and logistics. However, March saw a recovery, as weather conditions improved and operations normalised. No significant tariff or policy changes impacted trade during the period.
Exports from South Africa rise nearly 5%
South Africa’s iron ore exports increased by 4.5% q-o-q to 14.33 mnt in Q1CY’25, compared to 13.71 mnt in Q4CY’24, as per vessel line-up data maintained by BigMint.
China was the largest importer (7.65 mnt), followed by The Netherlands (1.35 mnt) and South Korea (1.17 mnt).
However, cumulative exports for January-March 2025 were down 4.9% against 15.08 mnt in the corresponding period last year.
Improved rail and port operations in March, following February’s disruptions from Transnet inefficiencies and cable theft, supported the export rebound from last month. Stabilised logistics and steady Chinese demand helped lift exports.
India’s exports up by 32% amid strong demand from China
India’s iron ore and pellet exports witnessed a sharp 32% increase, to 8.17 mnt in Q1CY’25 from 6.19 mnt in the final quarter of 2024.
China remained the largest importer with 6.65 mnt, followed by Malaysia with 0.57 mnt.
Despite the q-o-q rise, total exports in Q1CY’25 saw a 47% drop, to 8.17 mnt compared to 15.41 mnt in the same period last year.
The surge in Q1 exports was largely driven by aggressive restocking by Chinese mills ahead of the Lunar New Year holidays, supported by a temporary supply vacuum from Australia. However, overall volumes remained subdued y-o-y amid weak steel margins and cautious procurement.
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