Port Hedland: Iron Ore Shipments 12.2 Million Tons In Feb
March 04 2009 - 5:10PM
Dow Jones News
The Port Hedland Port Authority exported 12.2 million metric
tons of iron ore in February, a 10.5% decrease on the previous
month, according to the Authority website Thursday.
The latest total compares with 13.63 million tons exported in
January, according to Authority data.
The Authority didn't provide any further breakdown of the
figures, which collate monthly iron ore shipment data from major
port user BHP Billiton Ltd. (BHP), along with new entrants
Fortescue Metals Group Ltd. (FMG.AU) and Atlas Iron Ltd.
(AGO.AU).
The sharp decline suggests that Port Hedland shipments are
falling in line with slower demand from global steelmakers, due to
the economic crisis.
Up to now, BHP has said that it doesn't plan to scale back its
Western Australian mine production, with any tons surplus to
contract requirements to be sold into the spot market.
At the peak of the China-driven boom, in June 2008, BHP alone
shipped 12.26 million tons out of Port Hedland.
-By Stephen Bell, contributing to Dow Jones Newswires;
61-8-9244-4243; sgbell@bigpond.com
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