NEWS
Iron Ore   Sailing, Ports & Shipping  

Major Australian producers raise iron ore shipments

A rise in shipments of iron ore from major Australian mining companies last week is likely to ease Chinese buyers' concerns about supply tightness.

Total exports from Australia-based producers Rio Tinto, BHP, Roy Hill, Atlas and Fortescue were 18.34mn t in the week that ended 3 August, up by 17.5pc from 15.61mn t a week earlier. Iron ore shipments from Australia typically arrive at major Chinese ports in 10-15 days.

Portside stocks of imported iron ore were unchanged from a month earlier at 116mn t on 31 July, according to the China iron and steel association (Cisa).

Iron ore shipments from major Australian supplies have hovered in the 16mn-20mn t/week range since 6 April, after dipping to a low for this year of 5.48mn t in the week ended 30 March.

Rio Tinto, Australia's largest iron ore producer, has forecast a decline in exports in 2019, while BHP and Fortescue have projected that shipments will rise in the 2019-20 fiscal year that started 1 July.

Rio Tinto shipped 7.07mn t in the week that ended 3 August, compared with 6.84mn t in the previous week. BHP's shipments edged up to 5.56mn t from 5.53mn t and Fortescue's exports increased to 3.94mn t from 2.91mn t over the same period. Roy Hill shipped 1.33mn t in the latest week, after not exporting any ore in the week ended 27 July. Atlas' exports rose to 429,076t from 329,217t.

Iron ore prices are likely to remain under pressure in the near term amid a slide in the value of the yuan and US-China trade friction. Steel mill profitability has not recovered from lows reached in November and December last year. This has curbed mills' interest in building stocks, something that could continue if portside stocks increase this month and shipments from Australia and Brazil remain at current rates.

Brazilian mining firm Vale expects to bring 20mn t/yr of iron ore capacity on stream by the end of this year on a dry processing basis, further easing supply tightness.

News No: 5802
Date: 2019/08/06 - 20:14
News Source: Argus Media

Australian  shipments  iron ore  mining  Vale 

Comments:

Leave a Comment:

   
   
   
 

GIADEC says bauxite mining in Atewa Forest won’t affect water bodies in three key rivers

The Ghana Integrated Aluminium Development Corporation has assured that bauxite reserves in the Atewa Forest will not destruct the water bodies that source from the reserve. The three rivers, Birim, Densu and Ayensu provide drinking water to more than five million Ghanaians.
 

Indian mills eye stocks to tide over iron ore shortage

India's iron ore output is poised to post a sharp drop in the 2020-21 fiscal year starting 1 April, but it may not result in a significant spike in imports although domestic prices may increase.
 

Minister: Iran, Kyrgyzstan to Boost Trade Exchanges to $500mln

Iranian Minister of Industry, Mining and Trade Reza Rahmani announced that Tehran and Bishkek have decided to increase the value of their trade exchanges up to $500mln.
 

Indian Steel Market Weekly Snapshot

Indian spot steel trades remained limited during the week-47 (16-23rd Nov'19). Participants mentioned that, inquiries were less than the average, however due to sufficient orders in hand, the producers have slightly change their offers.
 

Indian Low Grade Iron Ore Fines Price Inch Up Amid Rising Chinese Demand

SteelMint in conversation with market participants learned low-grade fines (Fe 57/58) export price picked up to around USD 55-57/MT as against last week's assessment at around USD 54-57/MT. The market is supported amid rise in Chinese demand and falling iron ore inventory at major Chinese ports & restocking ahead winters.
 

Odisha Mine Auction 2020: Phase I Receives Aggressive Response

Odisha govt. had invited bids for grant of iron ore and manganese ore mining leases. The last date for submission of the bid for 1st phase was today in which 10 mines were put under hammer.
Upcoming Events
Publications
 Mines & Metals

Mine & Business Today

 Scrap & Recycling

Ahangan

Our partners