West Asia and Ukraine wars push freight rates higher Pilbara iron ore milestone strengthens global steel supply U.S. steel scrap market sees firmer pricing trend Core sector growth rises to 1.7% in April 2026
Tropical Cyclone Narelle has disrupted iron ore exports in Western Australia after forcing the closure of the key Pilbara ports of Ashburton and Dampier on March 26. The shutdown came as severe weather intensified, with the storm classified as category 3 and forecast to strengthen further. Wind gusts of up to 275 km/h have raised safety risks and halted port operations, creating fresh uncertainty for mining supply chains. The closures are expected to affect major exporters such as Rio Tinto and Mineral Resources, while Port Hedland, the world’s largest iron ore export hub, remains operational for now. Authorities have not yet announced when the affected ports will reopen.
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