WEEKLY: Aust., Brazilian iron ore shipments decline further by 11% WoW

The total volume of iron ore dispatched to global destinations from 19 ports and 16 mining companies in Australia and Brazil under Mysteel's tracking slipped further during March 10-16 to 23.5 million tonnes, lower by 2.9 million tonnes or 10.9% on week mainly due to the reduction in Brazil's ore shipments.

During the latest survey week, Brazilian iron ore dispatched from the country's nine ports to global destinations slumped by 3.4 million tonnes or 41.1% on week to just 4.8 million tonnes. Particularly, the volume sent by Vale, the largest iron ore miner in Brazil, tumbled to a five-year low