BHP Billiton has increased its full year guidance on iron ore to a whopping 217 million tonnes, beating analysts consensus by 5 million tonnes.
That includes a massive ramp up in quarterly iron ore output of 23%.
Iron ore is BHP's most profitable commodity, producing nearly 50 million tonnes of it in the Pilbara in the first quarter of this year alone, in spite of wild weather.
On a week to week basis, analysts will quibble about market expectations and actual versus expected volumes.
But that's a bit like when people argue over whether China as the world's second largest economy is growing at 7.5% or a slightly slower 7.4% per annum.
Remember to see the bigger picture: whatever is happening to commodity prices, Australia's export volumes are in boomtime.
In other news, annual UK inflation has fallen to just 1.6% in the month of March (click chart below to expand).
Wages are at last going to outpace the cost of living increase for the first time in a blue moon, and there are no interest rate hikes coming soon here.
London dwelling asking prices are up by a rip-snorting 17% in a year. Stand by for UK housing bubble redux.