Brazil's sees falling iron ore exports to EU

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Friday, October 14, 2016

Brazil's iron ore exports to the European Union fell to 29Mt in January-September from 30.1Mt in the year-ago period, said foreign trade department Secex.

Export revenue dropped 16.4% to US$879mn.

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The volume of flexible iron and steel tube shipments jumped 24.6% to 62,141t, while its revenue rose 51.3% to US$1.04bn.

Iron ore pellet exports to the bloc slumped to 7.71Mt from 11Mt as revenue fell 48.2% to US$399mn.

Ferro-niobium shipments fell 17.3% to 14,438t, with revenue 23.8% lower at US$317mn.

Shipments of copper concentrates to the EU increased to 397,684t from 389,100t, but revenue dropped 10.1% to US$723mn.

Export volumes of manufactured gold products increased to 22,917kg from 14,031kg, and revenue jumped 72.5% to US$920mn.

Brazil's total exports to the EU in the first nine months were worth US$25.4bn, a 0.88% year-on-year drop.

The following chart shows Brazil's overall iron ore exports in January through September.

[GRAFICO:FIGURA:ID_1197]