Reuters reported that iron ore exports to China from Australia's Port Hedland, which handles about a fifth of the global seaborne market, rose 10% in October from September, setting a record and highlighting why massive work is under way to dig more Australian mines.
Data released by the Port Hedland Port Authority showed that October shipments to China of 25.2 million tonnes were up 43% from a year before. Total iron ore exports from the port in October were flat compared with September at around 29.0 million tonnes but up 33% from a year earlier.
Shipments to Japan via Port Hedland in October fell to 1.6 million tonnes from 2.2 million in September. Shipments to South Korea dropped to 1.4 million tonnes from 2.9 million.
Port Hedland is used by BHP Billiton, Fortescue Metals Group and Atlas Iron to ship iron ore cargoes, which are expected to exceed 200 million tonnes this year. The Port Hedland figures do not include shipments by Rio Tinto, which uses different Australian ports.