WEEKLY: Aust., Brazilian iron ore shipments slump 23.7% WoW

After rising for two weeks straight, the total volume of iron ore dispatched to global destinations from the 20 ports and 17 mining companies in Australia and Brazil under Mysteel's regular tracking dropped to 18.8 million tonnes during February 2-8, down by a significant 5.9 million tonnes or 23.7% on week, with the shipments falling from both countries.

During the latest survey period, Brazilian iron ore shipped worldwide from the country's nine ports decreased by 534,000 tonnes or 7.7% on week to 6.4 million tonnes, with the volume sent by Brazil shrinking 106,000 tonnes or 2.1% from the prior week to 5 million tonnes. Meanwhile, Australian iron ore