WEEKLY: Aust., Brazilian iron ore shipments near 2-year high

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 tracking rose for the second straight week by a significant 5.7 million tonnes or 22.8% on week to reach 30.6 million tonnes during May 18-24, hitting the highest level since the end of June in 2024 with the shipments rising from both countries.

In the latest survey period, Brazilian iron ore shipped worldwide from the country's nine ports surged 2.1 million tonnes or 30.1% on week to 9.2 million tonnes, among which the volume sent by Vale swelled by 1.7 million tonnes or 33.8% from the prior week to 6.6 million tonnes. Meanwhile,