Canadian Iron Ore Exports Decline
Iron ore exports from Canada (excl. US cargoes) fell to a three-month low of 2.8 Mt in July, down 1.5 Mt year-on-year, according to the Tex Report. There was a 0.6 Mt drop in shipments to Europe to a six-month low of 1.3 Mt, while exports to China (-0.2 Mt to 0.8 Mt) and Japan (-0.4 Mt to 0.4 Mt) also fell. Exports to all destinations (excl. USA) for January-July were down by 1.8 Mt year-on-year at 19.6 Mt.