According to an Argus Media report, BHP is expected to make up for lost iron ore shipments from Port Hedland for the rest of the year and stay on track to hit its July 2018-June 2019 guidance, following the derailment of one of its trains earlier this month.
The train derailed after leaving without its driver, and subsequently the company was unable to deliver ore from its Pilbara iron ore mines to its port at Port Hedland. BHP was able to resume partial deliveries on November 10 and has been able to ramp up rail services over the past week despite some safety concerns related to the trains.
BHP's shipping data indicates that its loadings for November 6-19 this year are down by 22% on the same period in October and by 30% on the same period in November last year.
While this may seem like a large fall, it is only over a two-week period and BHP should be able to make up for this over the next six to eight weeks, assuming there are no other technical issues and the weather remains benign, according to analysts.
World's second largest exporter of iron ore - Brazil has recorded 9% decline in iron ore export volumes to 33.97 MnT in Nov'18 as compared to Oct'18 exports at 37.2 MnT, according to trade statistics released by Brazil customs.
South Africa - World's 3rd largest iron ore exporter after Australia and Brazil recorded exports at 5.37 MnT in Oct'18, according to the trade data released by South African Customs. The exports witnessed rise of 29% on monthly basis as against 4.17 MnT in Sep'18.
Iran recently witnessed second wave of economic sanctions from US which targeted Banking, Insurance and Shipping industry of Iran.
JSW Steel's iron ore import up 74% to 0.9 MnT in Nov'18
Odisha Mining Corporation (OMC) succeeded in drawing an encouraging response at its latest round of auctions of iron ore lumps on December 3, SteelMint learned from market participants.
World's 3rd largest iron ore importer - South Korea has witnessed rise in iron ore import volumes in Oct’18. The imports witnessed at 6.13 MnT, up 20% as against 5.09 MnT in Sep’18.