Australia’s iron ore exports to China from Port Hedland rose 3 percent to 32.61 million tonnes in June from a month earlier, while total shipments from the port hit a record high, figures released on Thursday showed.
The June increase helped sweep total iron ore exports for the fiscal year ended June 30 to 439.6 million tonnes, up 21 percent and also a record, according to the Pilbara Ports Authority.
Of that total, 373.24 million tonnes were destined for China, the data showed.
Iron ore in recent years has replaced coal as the country’s greatest source of foreign income, despite the price plunging as low as $46.70 in April - less than half of the price a year earlier. Iron ore has since rebounded to stand at $58.90 a tonne. <.IO62-CNI=SI>
Port Hedland, which handles about a fifth of the world’s seaborne iron ore trade, is used by BHP Billiton and Fortescue Metals Group.
Source: Reuters
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