Exports of iron ore to China via the Port Hedland terminal rose 5% in December from November, underscoring in part a subdued start to the Australian cyclone season.
According to Pilbara Ports Authority, December shipments to China from Port Hedland, which handles about a 5th of the world’s seaborne trade, increased by 1.57 million tonnes MoM to 30.6 million
The increase, in the face of depressed spot iron ore prices linked to a global supply glut and slowing Chinese demand growth, swept total December exports via the port to 37.8 million tonne, an increase of 7.8 million tonne, or 26% rise versus the same month in 2013.
Source – Reuters
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