Port Hedland shipments to China hit new high in July
Iron ore shipments to China from Australia’s Port Hedland reached a new high in July, due to increased supply from mining expansions.
Paragraph entered by Atlantic migration, in order for SteelFirst articles to display correctly on Metal Bulletin.
The world’s largest iron consumer acquired 30.6 million tonnes of the steelmaking raw material in July, up 4.8% from last month, and up 2.3% from the previous all-time high of 29.9 million tonnes recorded in May, according to data released by the Port Hedland Port Authority on Friday August 8.
Levels were also up by 49.7% year-on-year. According to Steel First analysis, more than 80 million tonnes of new seaborne supply entered the market during the first six months of 2014, as mining majors continue to expand operations.
Total exports from the port also hit a record high of 36.1 million tonnes, up 8.7% on the month and up 35.6% year-on-year.
Exports to Japan totalled 2.4 million tonnes, down 14.3% year-on-year but up 71.4% from the previous month.
Exports to South Korea reached two million tonnes, up 5.3% on the year, but 10.7% lower from June.
Taiwan received 599,139 tonnes of iron ore from the port in June, down 2.3% year-on-year but up 46.6% on the month.