Reuters reported that iron ore shipments to China from Australia's Port Hedland, a bellwether for Chinese industrial activity, rose by 11.8 % in August from the previous month.

Port authority data showed even as prices for the steel-making ingredient tanked, August shipments to China climbed to 16.72 million tonnes from 14.95 million tonnes in July. That was 17% higher than the 14.3 million tonnes shipped in August last year.

Iron ore prices in August averaged the lowest since October 2009, which miners and commodities traders say was due to weakening demand for new shipments from Chinese steel mills.

The steel ingredient has been the hardest hit among industrial commodities by China's slowdown, with its price dropping by more than a third this year.

Total iron ore shipments from Port Hedland in August were 22.78 million tonnes, up almost 17% from 19.5 million in July.

Source - Reuters

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