Shipments from Oz to China fell 34% or 5mt to 10.3mt in the last...

Shipments from Oz to China fell 34% or 5mt to 10.3mt in the last week.

WEEKLY: Aust., Brazilian iron ore shipments lose 16% WoW
Source:MysteelFeb 27, 2024 14:00
Imported Iron Ore
Shipment
The total volume of iron ore shipments dispatched to global destinations from the 19 ports and 16 mining companies in Australia and Brazil under Mysteel's tracking reversed down from the previous week's jump and lost 4 million tonnes or 16.1% on week to 20.8 million tonnes during February 19-25.

Adverse weather conditions caused the iron ore shipments to slow down from both countries last week, Mysteel Global noted. For example, some ports in Western Australia cleared their vessels late last week due to the looming Ex-Tropical Cyclone Lincoln, as reported.

During the latest survey period, Australian iron ore shipped worldwide from the country's 10 ports fell by a significant 3.2 million tonnes or 18.3% on week to 14.1 million tonnes after surging in the previous week.

Among the total, the volume sent to the country's largest iron ore consumer China also slumped 5.3 million tonnes or 33.8% on week to 10.3 million tonnes, with Australia's top three miners all reducing their iron ore shipments to China last week, the survey showed.

Specifically, Rio Tinto's shipments retreated from the prior week's rise and plunged 2.5 million tonnes or 49.2% on week to 2.6 million tonnes, BHP's dispatch lost 1.5 million tonnes or 28.5% on week to 3.7 million tonnes after the previous week's increase, and the tonnage from Fortescue Metals Group decreased for the second straight week by another 863,000 tonnes or 25.6% on week to 2.5 million tonnes.

Meanwhile, Brazilian iron ore shipped to global destinations slid 820,000 tonnes or 10.9% on week to 6.7 million tonnes during the same period, with the volume from Vale losing 157,000 tonnes or 3% on week to 5.1 million tonnes.

As for the week over February 26-March 3, one berth at Australia's Port Geraldton has been scheduled to undergo maintenance works for 24 hours, but it may not impact the country's overall iron ore shipments this week, according to Mysteel's tracking.



Australian iron ore shipments to China over February 19-25

Miner

Shipments (mln t)

WoW change

Rio Tinto

2.602

-49.2%

BHP

3.679

-28.5%

FMG

2.512

-25.6%