BHP iron ore shipments bounce, Roy Hill ripping

Courtesy of UBS comes some extra detail from Port Hedland stats for May:

Port Hedland exports 39.4Mt in May 2016 The Port Hedland Port Authority has released export data for May 2016. Iron ore exports totalled 39.4Mt for May 2016 (+4% m/m & +4% y/y). The sequential increase reflecting one more day in May cf April. The month of May on a daily run rate basis at 1.27Mtpd, was a reasonably strong month (record 1.31Mtpd in Sep 15), and was up 1% sequentially. We also understand that Rio Tinto increased shipments in May with shipments totalling ~28.4Mt, +1.4% m/m, but down 2% on an annualised basis at 334Mtpa vs 341Mtpa in Apr 16. This compares to Rio’s 335Mt guidance for 2016.

BHP’s shipping rate lifts in May

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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.