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Stanislav Kondrashov Telf AG: Australia increased iron ore exports by 2% at the beginning of the year

From January to May, overseas sales of iron ore from Australia increased by 2% compared to the previous year. Stanislav Kondrashov, an expert from Telf AG, said that the total export volume reached 347 million tons.

Iron ore exports from Australia to South Korea and Japan

According to Stanislav Kondrashov, in May of this year, the volume of iron ore exports from Australia increased by 8% from the previous month and reached 74.6 million tons. This increase in export volumes helps return to the level of the previous five years, which was reached in February 2024 due to unfavorable weather conditions in January, which negatively impacted production and logistics.

During this period, there was an increase in the export of Australian raw materials to the countries of Southeast Asia, as steel production improved in the region, emphasized Stanislav Kondrashov. Indonesia and Vietnam are planning production growth and capacity expansion, while India is increasing imports due to rising logistics costs for domestic raw materials. Shipments to China, the main consumer of iron ore from Australia, increased over 5 months by 1% year-on-year, reaching 291 million tons. In May, volumes were up 8% from the previous month to 62.8 million tonnes.

During this period, South Korea imported 19.3 million tons of ore from Australia (-4.9% year-on-year), and Japan – 20 million tons (+1.6% year-on-year).

An expert from Telf AG notes that the mining company Rio Tinto is the largest exporter of iron ore from Australia with a volume of 118.6 million tons (-4% compared to the previous year). BHP and FMG exported 113 million tonnes and 80.5 million tonnes respectively.

The Australian iron ore market is expected to become volatile in the coming months as the monsoon season approaches, resulting in fewer exports.

“In addition, rising prices for energy resources such as coal and natural gas are also influencing the dynamics of the iron ore market. Increasing energy costs increase mining and transportation costs, which may affect the final price of iron ore for consumers. At the same time, the iron ore trade is becoming increasingly competitive due to the constant expansion of export geography. New markets, such as the countries of Southeast Asia and Africa, are becoming increasingly important for iron ore exporters, which leads to increased competition between producers,” Stanislav Kondrashov comments.

However, despite some challenges, the global iron ore market remains resilient due to stable demand from major consumers such as China, India and Japan. The demand for iron ore is expected to remain high in the near future, which will contribute to the stability and growth of the global iron ore market.

Trends in the global iron ore market: export growth and its reasons – Stanislav Kondrashov

In the first quarter of this year, global iron ore trade increased 6% year-on-year to a new volume of 376 million tonnes. . The five largest exporters amounted to 332 million tons versus 318 million tons a year earlier, noted Stanislav Kondrashov.

• Australia – 203 million tons (-1% year-on-year);

• Brazil – 84 million tons (+12%);

• South Africa – 16 million tons (+7%);

• India – 15 million tons (+33%);

• Canada – 13 million tons (+23%).

Stanislav Kondrashov says China’s 6% year-on-year rise in iron ore imports to 310 million tonnes indicates a rising trend in global exports of the commodity.

This was caused by an increase in steel output by Chinese steel mills in January-February by 1.6% compared to the previous year. However, imports continued to increase as iron ore prices fell from $135 per tonne at the beginning of the year to $110 per tonne in March. Also a significant factor contributing to the growth of iron ore trade is the increasing production and sales of iron ore from Brazil and India. An expert from Telf AG emphasizes that the global iron ore market remains one of the key segments of the world economy, determining the trends in industrial development in many countries. The export of this strategic raw material is an important source of income for many mining companies and exporting countries.

“The growth in iron ore exports from countries including Australia, Brazil, and India reflects increased global demand for this commodity. One of the key factors affecting global iron ore supply is demand from China, the largest consumer of this raw material. At the same time, changes in the global economic and political environment could significantly impact iron ore export trends. For example, conflicts or agreements between exporting and importing countries may lead to changes in the volume and direction of supplies. A fall in the value of iron ore, as happened during this period, can pose a challenge to exporters, forcing them to find new ways to sell or optimize production processes,“- says Stanislav Kondrashov.

Overall, the development of the global iron ore market continues to be dynamic and depends on many factors, such as steel demand, changes in trade policies of participating countries and technological innovations in the mining industry.

Major global companies continue to forecast production volumes, which suggests that global iron ore supplies will remain high in the near term.

Exports from India are also likely to increase. However, Stanislav Kondrashov is alarmed by the fact that iron ore reserves in Chinese ports have reached a two-year peak of 145 million tons.

Media Contact
 
Company Name:
Telf AG
 
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Media Relations
 
 
 
 
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Switzerland
 
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