Australian Weekly Iron Ore Exports Fall 23%

Bloomberg reports iron ore exports from Australia declined about 23 percent for the week ended Sept. 1, with just 27 bulk carriers making shipments.

The market news is quoted as saying,

Australia is the world’s largest exporter of iron ore, forecast to ship an estimated 414 million metric tons in 2011, according to the country’s government forecaster, ABARES. Export earnings from the steelmaking ingredient topped $56 billion for the 12 months ended June 30, ABARES estimated.

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