Iron Ore Shipments From Port Hedland to China Drop in October as Price Declines

Mining Weekly reported that iron ore shipments to China from Port Hedland in Australia fell by 9 percent in October to 30.73 million tonnes, down from a record 33.78 million tonnes in September.
As quoted in the market news:

The port, the world’s largest for exporting iron ore, is used by sector majors BHP Billiton and Fortescue Metals Group, along with smaller miners including Atlas Iron and BCI Ltd.
Total shipments of iron ore through the port in October amounted to 36.52-million tonnes, down 7% from 39.41-million in September, also a record, according to the Pilbara Ports Authority. Japan, was the second-biggest destination for ore from the port, importing 2.47-million tonnes in October, followed by South Korea at 2.22-million.
The price of iron ore fell nearly 10% in October – the steepest October decline since 2011 when it tumbled 31%. It stood at $48.70 a tonne on Wednesday. Iron ore stocked at China’s ports reached 84.75-million tonnes on Oct. 30, the highest since May, data tracked by consultancy SteelHome showed.

Click here to read the full Mining Weekly report.