The region's share of China's finished steel exports over the ten months also dropped in the period.
But pellet shipments to the group of nations slumped 82%.
The Brazilian pellet maker, reeling amid the fallout from a deadly tailings dam breach in 2015, is working to resume operations around the middle of the year.
The US$231mn plant in Santa Fe province has a capacity of 650,000t/y.
An iron ore price rally ground to a halt last week and the commodity has so far held on to most of its gains. BNamericas digs deeper.
Each of the vessels' price tag is US$35mn, Vale said.
Spot copper closed up 0.08% at US$5,856/t (US$2.656/lb) on the London Metal Exchange.
Revenue from Minas Gerais and Pará shipments is up in November.
Products from China and Canada are also affected.