Australian iron ore exports rise in July

: Metals
25/09/04

Australian iron ore producers exported 75mn t of iron ore in July, up by 5pc on the year, despite declining South Korean and Vietnamese demand.

Australia exported 4.3mn t of ore to South Korea and 663,158t of iron ore to Vietnam in July, down by 22pc and 37pc on the year, respectively. Steelmakers in South Korea cut production by 5pc on the year in July, from 5.5mn t to 5.3mn t.
Chinese steelmakers bought 63mn t of Australian ore in July, up by 7.4pc on the year. The country's crude steel production rose in early and mid-August, but market participants expect it to fall from late-August to early-September.
Australian iron ore exports to Japan were flat on the year in July, rising by just 0.2pc to 4.4mn t. Japan's total crude steel output is expected to fall by 2.3pc on the year in July-September, for the second consecutive quarter, Japan's trade and industry ministry Meti said.
Australia's iron ore exports could rise again in August. Combined ore shipments from Western Australia's four main iron ore ports rose by 0.2pc on the year in August, provisional shipping data show. Shipments to China rose over the month, while exports to Japan and South Korea fell.
Argus' iron ore fines 62pc Fe (ICX) cfr Qingdao price has been rising since the start of July. It was last assessed at $103.35/t on 3 September, up from $93.05/t on 1 July.

By Avinash Govind

Australian iron ore exports
	Jul '25	Jun '25	Jul '24	y-o-y ± %	Jan-Jul '25	Jan-Jul '24	YTD ± %

Total (mn t)	74.8	85.3	71.3	5	519.8	517.4	0.5
Value ($bn)	5.9	6.8	6.2	-4.1	43.4	50.2	-13.6
Average Price ($/t)	79.4	80	86.9	-8.6	83.8	97.6	-14.2
Average FX rate	0.6	0.7	0.6	-0.3	0.6	0.7	-2.9
Source: Australian Bureau of Statistics

Argus' iron ore fines 62pc Fe (ICX) cfr Qingdao prices $/t

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