Australia Iron Ore Exports to China Rise in Feb'19
Australia - world's largest iron ore exporter has recorded rise in monthly export shipments in Feb'19, according to the vessel line up data maintained with SteelMint.
Australia's iron ore export shipments recorded at 67.94 MnT in Feb'19, as compared to 65.54 MnT in Jan'19.
On yearly basis too, the exports increased 4% as against 65.51 MnT in Feb'18.
For CY19 (Jan-Feb'19), total iron ore exports witnessed marginal fall to 133.48 MnT as against 135.3 MnT for same period last year.
Australian exports to China up marginally in Feb'19
China marked the largest importer of Australian iron ore in Feb'19 at 56.05 MnT, contributing 83% of total Australian exports for the year, up 4% against 53.67 MnT in Jan'19. Amidst reduced availability of Brazilian iron ore due to Vale mishap, and expectation of better steel margins, China increased imports from Australia.
Japan stood the second largest importer at 5.06 MnT (down 2% M-o-M), followed by Korea at 3.77 MnT (down 13%).
Port Hedland iron ore exports down 5% in Feb'19
In Feb'19, Port Hedland exported 39.50 MnT, down 5% against 41.54 MnT in Jan'19, followed by Walcott at 15.64 MnT (up 23% M-o-M) and Dampier at 11.62 MnT (up 19% on monthly basis). Port Hedland is used by three of Australia's top four iron ore miners, BHP Billiton, Fortescue Metals Group and Gina Rinehart's Hancock Prospecting.
Average global iron ore fines prices up in Feb'19 due to Vale mishap
Monthly average global iron ore fines (Fe 62%) prices increased 16% to USD 88/MT, CFR China in Feb'19 compared to USD 76/MT, CFR China in Jan'19.
The Vale dam disaster followed by a series of halt at various dam and mines owned by Vale led to global shortage of material resulting in sharp rise in ore prices.
source: SteelMint
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