Australia's iron ore exports to China increased by 11.8% in August

Reportedly Australia's Port Hedland iron ore shipments to China in August from the previous month growth of 11.8%, Japan imported 2.38 million tons of iron ore in August, July, imports amounted to 2.15 million tons, out of South Korea in Augustcargo of 271 tons, 150 million tons in July. While iron ore prices slipped, but iron ore exports remains a leading indicator of industrial activity in China.

According to statistics, in Australia's iron ore shipments to China rose to 16.72 million tons in August from 14.95 million tons in July. August iron ore price hit its lowest level since October 2009, mining companies and commodities traders said that the main demand by Chinese steel mills continued downturn.

Economic slowdown in China, the iron ore is one of the industrial commodities among the hardest hit, more than 62% of the iron ore prices last week hit $ 86.7 per tonne, the lowest record the past three years. The high point of the index since February 2011 has fallen by more than $ 100, fallen by more than a third of this price.

Australia is the largest source of imported iron ore in China, followed by Brazil. August Hedland Port overall iron ore shipments to 22.78 million tons, an increase of nearly 17%, compared to 19.5 million tons in July. BHP Billiton is the largest user of the port, followed FMG.

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