Iron ore (including pellets) exports from key global producers Australia, Brazil, South Africa and India fell month-on-month in February 2026. This was largely driven by sluggish purchasing from Chinese buyers amid rising portside inventories, which eased immediate supply pressures, and the nine-day Lunar New Year holiday (15-23 February). For example, China's iron ore and pellet inventories rose to 163.39 million tonnes in February 2026 from 161.24 million tonnes in January 2026.
Australian exports fell more than 15 percent month-on-month
In February Australia's 2026 iron ore and pellet exports totaled 64.2 million tonnes, down 16.2 percent from 76.6 million tonnes in January 2026, according to vessel mix data compiled by BigMint. However, shipments rose 21 percent year-on-year from 52.9 million tons in February 2025.
China remained the largest importer, receiving 53.1 million tons, followed by South Korea with 4.1 million tons and Japan with 4.1 million tons. Rio Tinto was the leading exporter with 22.0 million tonnes, followed by BHP with 20.7 million tonnes and FMG with 14.8 million tonnes.
After record high shipments in January, supported by operational upgrades at Port Hedland, planned maintenance work carried out by miners in February led to a monthly decline in export volumes. At the same time, Chinese demand has weakened ahead of the Lunar New Year holiday, while increased inventories at ports have reduced the urgency
