Brazil reports sharp drop in iron ore exports
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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