Global iron ore export shipments fall 2% w-o-w on weaker Pacific flows, snapping two-week rise

• Rising Brazilian, South African exports limit overall drop
  
  
• Adverse weather conditions drag down Australian volumes
  
  

Global iron ore export shipments declined 1.9% w-o-w to 30.3 million tonnes (mnt) in the week ended 29 May, compared with 30.9 mnt a week earlier, according to BigMint data. The drop halted a two-week uptrend and was driven by lower shipments from Australia, India, and Peru, which outweighed gains from Brazil, Canada, South Africa, and Chile.

Australian exports were impacted by adverse weather conditions, while Indian shipments fell amid limited cargo availability and slower Chinese bookings. Meanwhile, stronger miner loadings in Brazil and improving rail and port performance in South Africa supported export activity.

Country-wise trends

Port & shipper-wise trends

• Australia: Port Hedland handled 11.6 mnt, Dampier 3.6 mnt, and Port Walcott 3.2 mnt. Rio Tinto exported 6.7 mnt, BHP shipped 5.6 mnt, and FMG exported 4.4 mnt. China remained the largest importer at 14.9 mnt, followed by Japan (1.4 mnt) and South Korea (1.3 mnt).
  
  
• Brazil: Ponta da Madeira handled 2.6 mnt, Tubarao 2.4 mnt, and Itaguai 1.7 mnt. CSN and Vale exported 7.3 mnt, with China importing 4.2 mnt.
  
  
• Canada: Sept-Iles handled 0.7 mnt and Port Cartier 0.2 mnt. IOC exported 0.7 mnt, while AMNS shipped 0.2 mnt. The Netherlands imported 0.2 mnt.
  
  
• South Africa: Saldanha handled 0.7 mnt, while Richards Bay shipped 0.1 mnt. The Netherlands imported 0.2 mnt.
  
  
• India: Paradip and Dhamra each handled 0.2 mnt. Rungta Sons exported 0.2 mnt, while AM/NS shipped 0.1 mnt. China imported 0.2 mnt.
  
  
• Chile: Totoralillo handled 0.2 mnt, while Huasco shipped 0.1 mnt.
  
  
• Peru: San Nicolas handled 0.4 mnt, and Matarani shipped 0.2 mnt. Shougang Hierro exported 0.4 mnt, with China importing 0.5 mnt.
  
  

Capesize gains extend on firm Pacific demand

Dry bulk iron ore freights strengthened w-o-w, supported by healthy Pacific cargo demand and firm vessel utilisation in the Capesize segment. Market participants reported steady iron ore enquiries and tightening vessel availability on key routes, lending support to rates.

Supramax sentiment remained largely balanced, with limited fresh fixing activity and ample vessel availability capping upside momentum.

Outlook

Global iron ore shipments are expected to remain broadly stable, supported by healthy Brazilian cargo programmes and improving South African logistics. However, weather disruptions, maintenance schedules, and Chinese steel demand trends will continue to influence export flows. Freight sentiment is likely to remain cautiously firm amid active Capesize demand.