Some numbers today on bulk commodity third quarter shipments. Via UBS, first BHP:
Iron ore shipments for the quarter from WAIO are forecast to be down ~11% sequentially at 63.6Mt (100% basis) based on vessel movements. This reflects scheduled port maintenance on BHP’s berths during the quarter at Port Hedland. Global iron ore production (equity) is estimated at 56.8Mt, down 6% sequentially, and down 1% y/y reflecting the fire at Mt Whaleback and hence reduced operating rates.
Coal production volumes for the quarter are forecast to be up 12% versus the June quarter at ~18.7Mt. We expect met coal production to drive the increase as production was impacted by Cyclone Debbie in the June quarter. Thermal coal production is seen down 10% sequentially driven by NSW Coal.