The latest data released by the Australian Bureau of Statistics (ABS) shows that in January 2021, Australia’s total exports fell 9% month-on-month (A$3 billion).
Compared with the strong iron ore exports in December last year, the value of Australian iron ore exports in January fell by 7% (A$963 million). In January, Australia’s iron ore exports fell by approximately 10.4 million tons from the previous month, a drop of 13%. It is reported that in January, affected by tropical cyclone Lucas (Cyclone Lucas), the Port of Hedland in Western Australia cleared large ships, which affected the export of iron ore.
However, the Australian Bureau of Statistics pointed out that the continued strength of iron ore prices partially offset the impact of the decline in iron ore exports. Driven by continued strong demand from China and lower-than-expected output of Brazil’s largest iron ore, iron ore prices rose by 7% per ton in January.
In January, Australia’s coal exports fell by 8% month-on-month (A$277 million). The Australian Bureau of Statistics pointed out that following the sharp increase in December last year, Australia’s coal exports to its three major coal export destinations-Japan, India and South Korea-have all declined, mainly due to the decline in hard coking coal exports.
The decline in hard coking coal exports was partially offset by the increase in thermal coal exports and natural gas exports. In January, Australia’s natural gas exports increased by 9% month-on-month (AUD 249 million).