Growth in iron ore exports from Australia’s Port Hedland are slowing.
According to data released by the Pilbara Ports Authority yesterday, iron ore exports fell by 3.4% to 35.382 million tonnes in April.
While largely explained by the day run – there are 30 days in April compared to 31 in March – from a year earlier, total export volumes increased by 1.6%. This was not only the slowest rate of growth recorded since September 2012 but also well below the 20% plus growth recorded over the entirety of 2014.
Iron ore exports to China, Australia’s largest export destination, fell to 30.117 million tonnes in April, leaving volumes up 4.2% from a year earlier