The Port Hedland Port Authority has released its June shipping figures and the numbers are a little bit of surprise to me. Total shipments fell 7% to 33.6 million tonnes (mt):
In aggregate terms, China accounted for much of the fall but its share still rebounded strongly because other nation’s demand fell faster:
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There is no obvious reason for this. The main users of the port are BHP, FMG and AGO and nameplate production is higher than this. Indeed, shipments were higher in March, before peak output was reached. AGO has been laying off staff but has said nothing about winding down output. It only ships a little over 10mt per annum anyway.