Port Hedland iron ore goes like the clappers

Wednesday 4 June 2014

Port Hedland has released its May shipping data today and the volume ramp up continues with 36 million tonnes shipped on the month, up 3.5% from April and 31% year on year. It has to be said, however, that year on year growth is now starting slow, down from almost 40% a few months ago. As the year goes on, it will fall right away (which is also why today’s GDP blowoff won’t last):

There is also now a clear flattening of the Chinese portion of growth:

The great boom is slowing.

About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.