Australia's Port Hedland Iron Ore Exports to China Rise
Iron ore shipments to China from Western Australia's Port Hedland, the world's biggest terminal for shipments of the steelmaking raw material, rose 3.3% from February to 31.2 million mt in March.
While the rise is partly attributable to fewer shipping days in February, it also underscores efforts by Australian miners to displace China’s domestic production of iron ore. It also indicates that demand remained strong despite weakness in the market.
March exports to China were the third highest ever, after 31.7 million mt in October last year and 32.1 million mt in August. Total iron ore exports from Port Hedland in March rose to 36.6 million mt, up 2.5% from February, according to data released by the Pilbara Ports Authority.
South Korea received 2.3 million mt of iron ore from Port Hedland in March, down from 2.5 million mt in February, while around 2.1 million mt were exported to Japan, up from 1.7 million mt the month before, according to Pilbara Ports Authority.
BHP Billiton and Fortescue Metals Group ship from Port Hedland. Rio Tinto uses the nearby ports of Dampier and Cape Lambert.