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Brazil reports sharp drop in iron ore exports

Bnamericas

Brazil's iron ore exports fell 42.4% year-on-year in January to US$656mn, according to foreign trade department Secex.

The drop was mostly due to falling prices amid a supply glut on the international market. The average price of Brazilian iron ore in January was US$26.2/t, down 49% year-on-year.

In terms of volume, exports increased 12.8% to 25Mt.

January flat-rolled steel exports dropped 12% to US$112mn while volumes declined 43.9% to 235,700t. The price fell 38.9% to US$475/t.

Exports of semi-manufactured iron and steel products fell 53.9% to US$161mn, with volumes dropping 16.3% to 620,000t and prices falling 44.9% to US$259/t.

Brazil's aluminum exports rose 7.3% to US$39.4mn in January. Volumes increased 58.3% to 26,800t, while prices fell 32.2% to US$1,470/t.

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