All vessels at Australia’s iron ore hub of Port Hedland have been cleared early today as a tropical cyclone approaches, temporarily suspending iron ore shipments, according to a statement from the Pilbara Ports Authority.
Yesterday, April 11, prices of ex-Australia iron ore fines with 62 percent Fe content rebounded by two percent compared to the previous day to $121.2/mt, due to the expected supply reduction.
According to the information released by Port Hedland Port Authority, iron ore shipments from Australia’s Port Hedland in February fell by 19.1 percent compared to the previous month and by 1.6 percent year on year, totaling 38,811,009 mt.
The Australian government will invest A$565 million to expand the export and import capacity at Port Hedland, as SteelOrbis previously reported.