Total iron ore loadings in the first 8 months of 2021 were up +2.1% y-o-y to 1027.8 MMT. This was higher than the 997.2 MMT in the first 8 months of 2019 that was affected by the Brumadinho dam disaster. However, it was a little less than the previous record 1028.7 MMT in the first 8 months of 2018.

In ton-miles, trade has massively shifted in favor of long-haul shipments from Brazil to Asia. Total iron ore shipments from Australia declined by -0.6% y-o-y in the first 8 months of 2021, to 580.7 MMT. Total shipments from Brazil surged by +10.7% y-o-y to 228.0 MMT. This is, however, still below the pre- Brumadinho level of 249.8 MMT in Jan-Aug 2018.

Brazil now accounts for 22.2% of global iron ore shipments, after Australia’s 56.5%.