Yesterday Port Hedland released its August shipping statistics including iron ore tonnages, which looked like this:
Not bad but closer inspection throws up a few worries. August tends to be a down month but this year the fall is 9.3% versus half that in the previous two years.
Volumes tend to be highest mid year and at year end so we shall see how things develop.
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Port Hedland does not include Rio’s ore so it is only a guide.
