Western Australia’s Port Hedland shipped minerals ores totaling 60.5mn mt in August, of which 46mn mt was iron ore, according to latest figure from the Pilbara Ports Authority.
Iron ore shipped from the port increased by 1.4pc compared to 45.4mn mt in August 2019. Iron ore fines exported to China from Port Hedland accounted for 41.5mn mt, about 89pc of the total shipments. Other destinations include Asian countries such as Malayasia, Japan and South Korea.
China’s dominance in the Australian iron ore market, along with Brazil’s Valemax shipments, is reflective of the country’s influence in the market, and its price driving demand feeds its need to produce more crude steel, owing to its rapid infrastructural expansion in this year.