Australia Iron Ore Export Shipments Down 7% in July’19
Australia - world's largest iron ore exporter has recorded fall in iron ore shipment in July’19, according to the vessel line up data maintained with SteelMint. Australia's iron ore export shipments recorded at 71.03 MnT in July'19, down 7% as compared to 76.31 MnT in June’19.
The exports fell amid rising inventory at major Chinese ports. As per data compiled by SteelHome consultancy, Iron ore inventory at major Chinese ports picked up to 119.25 MnT towards July’19 end as against 115.25 MnT towards June’19 end. The inventory picked up against recording around 2 years low levels in June’19.
For CY’19 (Jan-July), the total Australian iron ore exports recorded declined by 3% to 481.43 MnT as against 498.15 MnT for same period CY18 (Jan-July’18). The exports dropped amid hindrance in exports caused due to tropical cyclone in Australia in Mar'19. As a consequence, major Australian miners reduced their shipments for the year.
Australian exports to China down 8% in July19
China marked the largest importer of Australian iron ore in July'19 at 57.75 MnT, down against 62.61 MnT in June’19. Japan stood second largest importer for the month at 6.03 MnT followed by Korea at 4.85 MnT. Australian exports to India recorded nil for the fourth consecutive month.
Country-wise Iron Ore Exports
source: SteelMint
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