Global iron ore exports at a new seasonal & 2024 record!

Invincible seasonality? With strong exports from Australia & Brazil, global weekly iron ore shipments soared to a new record in 2024 of 35Mt/Wk.

A chart displaying the evolution of global iron ore exports over a 5-year period, with separate graphs for the last 3 years, utilizing colors from the IG color palette.

Despite global steel output dipping -5% YoY in Apr’24, weekly iron ore exports have regularly increased in the last 7 weeks with China sticking to current iron ore restocking cycle which has already resulted in piling 40Mt at its ports since the previous low in November 2023 and with room for an extra 20Mt.

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