Australian Iron ore exports to China from the world’s largest export terminal, Port Hedland fell to six-month low in January. Exports were affected by Cyclone Joyce, China bottlenecks and year end.
Port Hedland Terminal Source: Shipping News
Iron ore shipments to China in January from the Port Hedland terminal fell 11.3 percent from a month ago to 34.7 million tonnes, their lowest since July, port data released showed. However whilst that is significantly lower than the 39.1 million tonnes in December sompared to January imports a year ago they were 0.6 percent higher than a year ago.
The port at Port Hedland accounts for over half of Australia’s iron ore exports, handling over a million tonnes a day from the Pilbara iron belt, with the majority bound for Chinese steel mills.
Total January iron ore shipments from the world’s biggest export terminal for the steelmaking raw material totalled 41.1 million tonnes versus 46.2 million tonnes the previous month, according to the Pilbara Ports Authority.
Port Hedland is used by three of Australia’s top four iron ore miners, BHP $BHP, Fortescue Metals Group and Hancock Prospecting. Rio Tinto $RIO uses the nearby Dampier and Cape Lambert ports to ship iron ore.
Source: Port News
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