Iron Ore Cargoes From Port Hedland Drop on Weather Disruption
- Bad weather hurt loadings after strong December, ANZ says
- Prices retreat 39% last year as global supplies top demand
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Iron ore shipments from Australia’s Port Hedland declined in January after loadings were disrupted by bad weather and bumper volumes were dispatched from the world’s top bulk-export terminal the month before.
Total exports fell to 33.78 million metric tons from 37.55 million in December and 36.77 million in January 2015, according to port authority data. That’s the lowest since June 2014. China-bound cargoes dropped to 28.91 million tons from 32.17 million in December and 30.15 million a year earlier, said the authority, which revised the figure for Chinese shipments on Thursday after releasing initial data on Wednesday.