Iron ore shipments to China via Port Hedland rise in October

The volume of iron ore shipped to China from Port Hedland, the top iron ore dispatch terminal in Western Australia, rose by a small 0.6% on month to 42.2 million tonnes in October, according to the latest data released by the Pilbara Ports Authority (PPA). Last month's total was higher by a notable 7.3% on year, however.

The rise in shipments reflected China's resilient demand for iron ore despite its struggling steel sector. Some market pundits have suggested that the buoyancy of China's iron ore imports reflects market optimism that Beijing will soon announce new measures to reinvigorate China's economy during the upcoming 15th Five Year