Bloomberg reported today that exports of iron ore from Australia’s Port Hedland to China declined last month. Though export numbers had previously hit an all time high, demand from China has fallen due to high domestic stockpiles.
As quoted in the publication:
Shipments from the worldâ€™s biggest bulk export port to China were 29.2 million metric tons from the record 29.9 million tons in May and 22.9 million tons a year earlier, data on the port authorityâ€™s website showed today. Total shipments were 33.6 million tons from a record 36.1 million tons in May and 27.7 million tons in June 2013, theÂ dataÂ show.