By Rhiannon Hoyle
SYDNEY--Iron-ore exports from Australia's Port Hedland rose last
month, with shipments to top buyer China rebounding from a
multimonth low in November when a global summit in Beijing prompted
restrictions on heavy industry.
Cargoes of iron ore leaving Port Hedland, the world's largest
iron-ore shipping hub, totaled 37.1 million metric tons last month,
up 7.8% on a month earlier, according to the Pilbara Ports
Authority. Shipments destined for China increased to 30.6 million
tons from November's 29.0 million tons, which was a seven-month
low.
Steel mills and factories were temporarily closed for the
high-profile Asia-Pacific Economic Cooperation forum in November.
Those measures aimed to reduce air pollution as leaders from around
the world visited Beijing, but also curbed demand for iron ore, the
key ingredient in steel.
Mining companies including BHP Billiton Ltd. (BHP.AU),
Australia's No. 2 iron-ore miner, Fortescue Metals Group Ltd.
(FMG.AU) and Atlas Iron Ltd. (AGO.AU) use Port Hedland. The port is
located in Australia's remote northwest Pilbara region, which
supplies half of all the world's iron ore traded by sea.
Exports were considerably higher on-year due to recent
expansions by iron-ore miners including Fortescue. Total shipments
in December were up 26% compared with year-earlier volumes, with
shipments destined for China 27% higher.
-Write to Rhiannon Hoyle at rhiannon.hoyle@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires