Posted on 03 Aug 2022
Over July 25-31, the total volume of iron ore dispatched to global destinations from the 19 ports and 16 mining companies in Australia and Brazil under Mysteel's survey reversed from the prior week's dip by 1.3 million tonnes or 5.3% to reach 26.5 million tonnes. The increase was mainly attributed to higher shipping volumes from Brazil.
During the latest survey period, Brazilian ore dispatched worldwide from the country's nine domestic ports surged by 2.9 millon tonnes or 46.6% on week to 9 million tonnes, a new high since early October 2021. Meanwhile, Australia shipped 17.5 million tonnes of iron ore from its 10 ports to global destinations, down 1.5 million tonnes or 8% on week.
Among the total, shipments from Australia to its top consumer country China reversed from the previous two-week increase, down 1.3 million tonnes or 8% on week to 15.3 million tonnes.
Among Australia's top three miners, both Rio Tinto and BHP reduced their iron ore shipments to China, with the former down 1.4 million tonnes or 24.5% on week and the latter falling 824,000 tonnes or 15.4% on week. In contrast, Fortescue Metals Group increased its shipments by 1.3 million tonnes or 46.6% on week.
Over the same period, iron ore shipments from Vale to global destinations also reversed from the one-week drop and rose to 6.7 million tonnes, up 1.7 million tonnes or 33.8% on week.
Over August 1-7, two berths at port Hedland and one berth at port Geraldton in Australia are scheduled to undergo maintenance works, which is expected to reduce iron ore shipments by 14,000 tonnes, according to Mysteel's assessment.
Source:Mysteel Global
