The Big 4 export 65.3Mt in June and 795Mt for FY 17
Initial data from Marine Traffic shows Australia’s big 4 (BHP, RIO, FMG & Roy Hill) shipped ~65.3Mt for June 2017, down 6% m/m & down 2% y/y. An annualised rate of 795Mtpa, so down 3% sequentially given 30 days in June versus 31 days in May. This is the 3rd highest annualised run rate this year. FMG eased off on shipments as they came into the end of the financial year, while BHP maintained a healthy 281Mtpa rate. Rio was the disappointment again, shipping at a 301Mtpa rate in June.
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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.
