Australia Iron Ore Exports Up 11% in May'19
Australia - world's largest iron ore exporter has recorded rise in iron ore shipment for May'19, according to the vessel line up data maintained with SteelMint. Australia's iron ore export shipments recorded at 76.97 MnT in May'19, up 11% as compared to 69.22 MnT in Apr'19. On yearly basis, Australia iron ore exports dropped slightly as against 78.20 MnT in May'18.
The Australian exports picked up for the month amid rising Chinese demand and rise in spot iron ore prices. Towards last week of May'19, iron ore supply crises led China spot iron ore prices reach USD 108/MT, hovering around five years high.
For Jan-May'19, the total Australian iron ore exports recorded 6% decline at 334.09 MnT as against 356.11 MnT for the same duration last year (Jan-May'18). The exports dropped amid hindrance in exports caused due to tropical cyclone in Australia in Mar'19.
Australian exports to China Hit 1 Year High in May'19
China marked the largest importer of Australian iron ore in May'19 at 62.52 MnT, up 13% against 55.16 MnT in Apr'19. As per SteelHome consultancy, Iron ore inventory at major Chinese port fell to 124.9 MnT towards May'19 end as against 133.6 MnT towards beginning of May'19. This kind of inventory level was last seen in Feb'17. Amid low stock in China, steel mills demanded seaborne cargo which led to rise in iron ore fines prices sharply.
Chinese imports for the month stood 1 year high in May'19, the level was last witnessed in May'18 at 78.20 MnT. Japan stood second largest importer for the month at 6.42 MnT followed by Korea at 5.21 MnT. Australian exports to India stood nil for second consecutive month.
Port Hedland iron ore exports picked up 8% in May'19
In May'19, Port Hedland exported 45.72 MnT, up 8% against 42.38 MnT in Apr'19, followed by Walcott at 17.14 MnT (up 28% M-o-M) and Dampier at 12.92 MnT.
Average global iron ore fines prices picked up in May'19
Monthly average global iron ore fines (Fe 62%) prices in May'19 recorded at USD 99/MT, up USD 6/MT against USD 93/MT, CFR China in Apr'19.
source: SteelMint
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