Australia’s Pilbara iron ore exports drop in October

: Metals
24/11/14

Iron ore shipments from Western Australia's (WA's) Port Hedland fell by 6.5pc on the month in October, driven by a 12pc decline in exports to China, according to Pilbara Ports Authority (PPA) data, but shipments to most markets were steady on the year.

Ships moved 45.6mn t of iron ore out of Port Hedland, down from 48.8mn t in September, but largely steady on the year. Exports to China and Vietnam fell by 5.2mn t and 100,000t, respectively, while shipments to most other markets rose by 300,000-500,000t.

WA firms exported 472.3mn t of iron ore through Port Hedland over January-October, 2.7pc higher than the same period a year earlier, driven by a 12.3mn t rise in exports to China.

Port Dampier's iron ore exports in October fell by 6.9pc to 12.2mn t, but year-to-date iron ore exports have increased by 5pc to 122.7mn t.

Australian mining firm Rio Tinto left its 2024 Pilbara iron ore shipment forecast unchanged in its most recent operational review, and intends to ship 323mn-338mn t of iron ore this year. Recent provisional shipping data also indicate that mining firms BHP and Rio Tinto increased their weekly iron ore loadings at the end of October, while those at Roy Hill and Fortescue fell.

Australia's major competitor Brazil posted a 5pc increase in its October exports to 35.3mn t, because of increased shipments to China on the back of higher steel demand.

BHP, Fortescue, Roy Hill, Hancock Prospecting and Mineral Resources export iron ore through Port Hedland, while Rio Tinto has four independent shipping terminals split across Cape Lambert and Dampier.

The Argus ICX 62pc iron ore index was at $100.70/dry metric tonne (dmt) cfr Qingdao on 13 November compared with $107.25/dmt on 14 October.

by Avinash Govind

West Australian iron ore exports						mn t
	China	Japan	South Korea	Taiwan	Vietnam	Total*

Port Hedland
Oct '24	39.3	1.4	3.0	0.4	0.3	45.6
Sept '24	44.5	1.0	2.4	0.1	0.4	48.8
Oct '23	39.7	1.9	2.6	0.4	0.5	45.1
Jan-Oct '24	406.1	15.8	32.0	3.5	5.3	472.3
Jan-Oct '23	393.8	17.2	30.1	3.6	5.5	459.5

Dampier		Oct '24	Sept '24	Oct '23	Jan-Oct '24	Jan-Oct '23
		12	13	12.5	122.7	116.8
Source: PPA
*Total destinations, not just those listed

Iron ore prices $/dmt

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25/12/19

Chile to audit SQM-Codelco lithium deal

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Mexico central bank cuts target rate to 7pc

25/12/19

Mexico central bank cuts target rate to 7pc

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Viewpoint: Al industry faces structural Europe decline

25/12/19

Viewpoint: Al industry faces structural Europe decline

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Viewpoint: Indonesia’s MHP surge to hit nickel prices

25/12/19

Viewpoint: Indonesia’s MHP surge to hit nickel prices

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US inflation slows to 2.7pc in November

25/12/18

US inflation slows to 2.7pc in November

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