Australia: Iron Ore Exports Up 6% in Aug'18
Australia - world's largest iron ore exporter has recorded an increase of export shipments for the month of Aug'18.
According to the vessel line up data maintained with SteelMint, Australia's iron ore export shipments recorded at 70.59 MnT, up 6% on monthly basis as compared to 66.68 MnT in July'18.
On yearly basis, the Aug'18 exports grew marginally against 69.26 MnT in Aug'17.
In CY'18 (Jan-Aug'18) Australia's iron ore export shipments witnessed an increase of 4% to 568.73 MnT compared to 544.81 MnT in the same period last year.
Chinese's government strict environmental norms rendering shift towards high grade iron ore, in turn creating better opportunities for Rio Tinto and BHP Billiton (producers of high grade iron ore from Pilbara region).
BHP Billiton intends to lift its iron ore content in order to fetch better profits amidst China's demand for higher grade ore. The BHP Billiton's South Flank sustaining iron ore project has been approved during the Jun'18 quarter, and will contribute to increase its average iron ore grade from 61% to 62%.
Australia exports to China increased 8% M-o-M
China marked the largest importer of Australian iron ore at 57.07 MnT, contributing 81% of total Australian exports for the month, up 8% against 52.86 MnT a month before.
Japan stood the second largest importer at 6.58 MnT (up 13% M-o-M), followed by Korea at 3.65 MnT (down 34% M-o-M).
India witnessed slight decrease of 3% in imports at 0.68 MnT, against 0.70 MnT in July'18. JSW Steel stood the largest Indian importer of Australian Iron ore for the month.
Port Headland iron ore export up 8% in Aug'18
In Aug'18, port Headland marked largest exporter at 43.18 MnT, up 8% on monthly basis against 39.90 MnT in July'18, followed by Walcott at 15.23 MnT (down marginally) and Dampier at 11.05 MnT (up 3% on monthly basis).
source: SteelMint
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