1/19/2015

Australia iron ore ports face short closure on cyclone threat

Australia's Pilbara Ports Authority started evacuation of ships at the Port Hedland and Dampier iron ore ports due to cyclone threat, but forecast a short closure due to the low intensity of the storm. Any interruption in iron ore shipments from the key ports of top supplier Australia could support prices of the steelmaking raw material, which are mired near 5-1/2-year lows in a world market flush with supplies from big Australian miners.