Iron Ore Shipments From Top Australian Port Hit Annual Record
- Full-year cargoes reached 569 million tons, beating 2022 level
- Big miners in Australia and Brazil have been boosting supplies
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Iron ore shipments from Australia’s top terminal reached a record in 2024, even as top customer China has been in the throes of a steel output slowdown.
Exports of the steelmaking material from Port Hedland in Western Australia reached 47.6 million tons in December, down more than 4% from the year before, according to Pilbara Ports Authority data and Bloomberg calculations. Still, that put full-year cargoes at about 569 million tons, beating the previous record of 560 million tons set in 2022.