Brazil iron ore export revenue halved in June
Brazil's iron ore exports fell 49.8% year-on-year in June to US$1.22bn, according to foreign trade department Secex.
The revenue drop was mostly due to falling iron ore prices amid a supply glut on the international seaborne market. The average price of Brazilian iron ore shipments in June was US$38.0/t, down 51.4% year-on-year.
In terms of volume, exports increased 3.2% to 32.0Mt.
Flat-rolled steel exports jumped 35% to US$170mn as volumes increased 69.4% to 299,400t. The average price fell 20.3% to US$568.00/t.
Exports of semi-manufactured iron and steel products rose 1.5% to US$265mn, with volumes increasing 59.2% to 779,900t and prices falling 36.3% to US$339.90/t.
Brazil's aluminum exports fell 33.7% to US$45.9mn in June. Aluminum shipment volumes declined 29.8% to 24,400t, while prices decreased 5.6% to US$1,877.80/t.
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