Global exports of iron ore and pellets show mixed dynamics in the first half of fiscal year 2026 amid increased supplies

Global trade in iron ore and pellets showed mixed trends in the first half of fiscal year 2026, supported by stable supply activity from major exporting countries and continued purchases in Asian markets, especially in China. However, during this period, the market as a whole also faced numerous challenges, including rising crude oil prices amid the conflict between the United States and Iran, which increased freight costs and affected global trade flows. At the same time, the growth of mine supplies from major exporters and expectations of additional volumes after the start of the first ore extraction at the Simandou iron ore project significantly increased the availability of sea cargo, continuing to put pressure on international iron ore prices, despite periodic improvements in demand in China. in the first half of fiscal year 26, which is 7.8 percent higher than the 419 million tons in the first half of fiscal year 25. Pellet exports also increased by 10 percent year-on-year to 1.1 million tons from one million tons last year. Moreover, in June of this year, Australia exported 82.0 million tons of iron ore and 200,000 tons of pellets, compared with 80.7 million tons of iron ore and 200,000 tons of pellets in May.

China remains the largest importer of Australian iron ore and pellets with a volume of 375.1 million tons, followed by Japan with 28.5 million tons. Rio Tinto led the way among exporters with shipments of 156.1 million tonnes, followed by BHP with 145.9 million tonnes and Fortescue Metals Group with 105.9 million tonnes in the first half of fiscal year 26.

Australian exports remained strong due to increased shipments, especially to China, to offset lower domestic iron ore production, with ROM production falling to 397 million tonnes in the first five months of fiscal year 26, compared with 412 million tonnes in the same period last year.

Moreover, China maintained higher port stocks at the end of June this year at 159 million tons (through 34 major ports), further supporting supply growth under a scenario in which China's crude steel production fell 4.5 percent to 434.8 million tons in the first half of this year compared to the first half of the year. Fiscal year 25. In addition, increased shipments from major mining companies and stable mining and rail operations in the Pilbara contributed to export growth, resulting in stable purchases in the first half of the year.

Brazilian supply decreased by 4 percent year-on-year

Brazil's iron ore exports totaled 181.82 million tons in the first half of fiscal year 26