Australian Iron Ore Exports at Record High, while Coal Drops in June
Coal, Iron Ore
Australian iron ore shipments climbed by 7.1 Mt year-on-year to a record high of 85.3 Mt (wet basis) in June, according to the latest data from the Australian Bureau of Statistics (ABS). This brought 2q20 exports up by 12.7 Mt year-on-year to 241.9 Mt.
By contrast, coking coal exports dropped by 4.1 Mt on the year to 15.1 Mt in June, weighing on 2q20 exports, which fell by 6.9 Mt to 41.9 Mt. Meanwhile, shipments of steam coal inched down to 17.7 Mt (-0.4 Mt) in June and those in the 2q20 declined to 49.9 Mt (-2.3 Mt).