Iron ore producers shipped45.3mn t of iron ore out of Australia's Port Hedland and Dampier in February, down by 7.7pc on the year, because of weather challenges and depressed southeast Asian sales.
- Port Hedland briefly closed in mid-February, as Cyclone Zelia passed by the export hub, but this does not appear to have significantly dampened its exports over the month. Exports from the port fell by 4.5pc on the year to 37.1mn t.
- But Dampier, which handles many of Rio Tinto's iron ore exports, was severely affected by weather disruptions over the month. Cyclone Sean damaged one of Rio Tinto's railcar dumpers at Dampier on 20 January, taking it off line until 3 March. Exports from the port fell by 19pc on the year in February.
- Exports from Port Hedland to China, the largest buyer of iron from the hub, dropped by 5.7pc on the year in February [see table]. The country's metal sector has been struggling over recent months, with crude steel production falling by 1.5pc on the year over January-February. Many of China's export partners are also looking at taxing its steel products.
- Vietnamese firms bought 73pc less iron ore in February than they did a year earlier. The country's steelmakers are currently facing anti-dumping investigations by the US, and will have to navigate around European hot-dip galvanised steel quotas from April.
- Exports to Japan, South Korea, and Indonesia each rose by between 21-53pc on the year. Shipments to Japan rose by 21pc on the year, as Japanese steelmaker Mitsui took steps to expand its Australian iron ore operations, buying into and expanding mine developments.
- Argus' iron ore fines 62pc (ICX) cfr Qingdao price started falling on 21 February, approximately one week after President Donald Trump's trade counsel Peter Navarro indicated that Australia would likely not be exempt from sweeping US metal tariffs. The price slumped to $101.40/t on 19 March from $109.20/t on 21 February.
| Port Hedland iron ore exports | mn t | ||||
| Feb-25 | Jan-25 | Feb-24 | m-o-m Change (%) | y-o-y Change (%) | |
| China | 31.6 | 39.1 | 33.5 | -19.3 | -5.7 |
| South Korea | 2.9 | 2.8 | 2.0 | 6.0 | 45.0 |
| Japan | 1.4 | 1.9 | 1.2 | -22.6 | 21.1 |
| Indonesia | 0.5 | 0.4 | 0.4 | 45.1 | 53.0 |
| Vietnam | 0.3 | 0.6 | 1.0 | -56.4 | -73.4 |
| Total* | 37.1 | 45.9 | 38.9 | -19.3 | -4.5 |
| Dampier | |||||
| Total | 8.2 | 9.8 | 10.2 | -15.9 | -19.0 |
| Total includes other countries | |||||
| Source: Pilbara Ports Authority (PPA) | |||||
Argus iron ore fines 62pc (ICX) cfr Qingdao price ($/t)
