FMG does it best.

Vale's shipments down 11.5% WoW, reducing for the third straight week. Something going on there!

Rio's shipments down 9.2%, WoW.

BHPs shipments, down 13.7%, WoW.

FMG's shipments- up 36.2%, WoW!

What a standout performance.

FMG with a strong customer base in China.

WEEKLY: Aust., Brazilian iron ore shipments slip 1% WoW

Source: MysteelMar 12, 2024 13:00

Imported Iron OreShipment

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 dipped 221,000 tonnes or 0.9% on week to reach 25.2 million tonnes over March 4-10, failing to extend the prior week's gain. The retreat was due to the shipment reduction from Brazilian miners, Mysteel Global noted.

During the latest survey period, Brazilian iron ore shipped worldwide from the country's nine ports reversed from the previous week's rise and dropped by a significant 817,000 tonnes or 11.5% on week to 6.3 million tonnes. Among the total, the volume sent from Vale slid for the third straight week by another 521,000 tonnes or 11.4% on week to 4.1 million tonnes.

Meanwhile, iron ore shipments from Australia's 10 domestic ports to global destinations increased for the second consecutive week over the same period, up by 595,000 tonnes or 3.2% on week to 19 million tonnes.

The volume of Australian ore sent to the country's largest iron ore consumer China also went up by 448,000 tonnes or 3.1% on week to 15 million tonnes, thanks to the ramp-up in the shipments from Fortescue Metals Group (FMG), Mysteel's survey showed.

Among the top three miners in Australia, only FMG lifted its iron ore shipments to China last week, whose volume increased by a large 1 million tonnes or 36.2% on week to 3.8 million tonnes.

In contrast, both Rio Tinto and BHP cut their iron ore dispatch to China, with the former's volume falling 457,000 tonnes or 9.2% on week to 4.5 million tonnes, and the latter's losing 709,000 tonnes or 13.7% on week to 4.5 million tonnes, Mysteel's survey showed.

As for the week over March 11-17, one berth at Australia's Port Hedland has been scheduled to undergo maintenance for 48 hours, but it may not affect the country's iron ore shipments this week, according to Mysteel's tracking.

Australian iron ore shipments to China over March 4-10

	Miner	Shipments (mln t)	WoW change
Rio Tinto	4.523	-9.2%
BHP	4.479	-13.7%
FMG	3.759	36.2%

Written by Anthea Shi,[email protected]

Edited by Alyssa Ren,[email protected]