Hi Grebb, total iron ore shipments from Port Headland were actually 28.056m in November vs 28.8 million in October.
The shipments to China were down slightly but more than made up for by increased shipments to South Korea and Japan, FMG have been targeting South Korea as a buyer of its product over the last several months and I'd expect to see increasing shipments to South Korea by FMG.
I think most analysts don't factor in the increasing demand of Iron Ore by countries other than China particularly as the world economy continues to improve.
Furthermore I think the IO market is actually tighter than most believe and increased production will IMO struggle to keep up with the increasing worldwide demand for steel.
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