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Australia's Port Hedland total June iron ore exports up 14 pct

Reuters - UK Focus

SYDNEY, July 2 (Reuters) - Iron ore exports in June from Australia's Port Hedland rose 14 percent to a record 38.3 million tonnes from a year earlier, exceeding the monthly record set in May, port figures released on Thursday showed.

The June increase helped sweep exports for the fiscal year ended June 30 to 439.6 million tonnes, up 21 percent and also a record, according to the Pilbara Ports Authority.

Iron ore in recent years has replaced coal as the country's greatest source of foreign income, despite the price plunging as low as $46.70 in April - less than half of the price a year earlier. Iron ore has since rebounded to stand at $58.90 a tonne.

Port Hedland, which handles about a fifth of the world's seaborne iron ore trade, is used by BHP Billiton (NYSE: BBL - news) and Fortescue Metals Group, the lion's share of shipments headed for Chinese steel mills.

Figures breaking down destinations for iron ore shipment by country would be released later on Thursday, according to a spokeswoman for Pilbara Ports Authority. (Reporting by James Regan; Editing by Anand Basu)