Australia’s iron ore and pelletizing exports with 2% monthly growth reached to 2.72 million tonnes in November 2023. However, in January to November the exports records shows 1% decline ( 776 million tonnes ) from the same period last year.

Completing the warehouses before winter and maintaining profit margins, supported Australian iron ore demand. Factories in China decided to combine medium- and low-grade iron ore in order to be affordable, as finished steel prices were under pressure in its domestic market.

Australian iron ore exports to China, the world’s largest importer, recorded 61.9 million tonnes in November, up 6 per cent against 58.5 million tonnes in October. South Korea and Japan were also the other major importers from Australia in November.