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UPDATE 1-Port Hedland iron ore exports to China rise 0.8 pct in February

Published 04/03/2016, 05:17 pm
Updated 04/03/2016, 05:20 pm
© Reuters.  UPDATE 1-Port Hedland iron ore exports to China rise 0.8 pct in February
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* Port Hedland Feb China iron ore exports up 230,000 tonnes

* Rise comes despite short month (Adds details)

SYDNEY, March 4 (Reuters) - February iron ore shipments to China from Australia's Port Hedland, used by BHP Billiton BHP.AX BLT.L , rose by 0.8 percent, or 230,000 tonnes in February, port data released on Friday showed.

The world's biggest export terminal for iron ore shipped 29.14 million tonnes to China in February against 28.91 million tonnes in January, according to the Pilbara Ports Authority.

A metals trader said the modest lift in shipments despite fewer shipping days in February reflected the port's two-day closure in late January due to a cyclone and did not indicate any rise in production by BHP, or the port's other main user, Fortescue Metals Group FMG.AX .

The higher tonnage comes as iron ore, one of the worst-performing commodities last year, stages a recovery on the back of firmer Chinese steel prices despite forecasts for a prolonged supply glut.

Spot iron ore .IO62-CN=SI was last quoted at $51.70 by the Steel Index, its highest since October last year.

BHP has set a production target of 237 million tonnes and Fortescue 165 million tonnes in fiscal 2016, ending June 30.

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