Brazil's iron ore exports to BRICS nations slump

Brazil's iron ore exports to fellow BRICS nations plunged 51.8% to US$5.23bn in January-November

However, by volume they rose 0.65% to 156Mt, according to foreign trade department Secex.

A supply glut that has driven down iron ore prices on the international seaborne market was a key factor behind the drop.

On the other hand, pellets sales spiked to US$645mn in January-November from US$243mn, as volumes shot up to 8.60Mt from 2.47Mt.

Ferro-niobium exports to other BRICS nations during the 11 months rose to US$423mn from US$351mn, while by volume they increased to 18,466t from 14,707t, Secex said.

Copper cathode exports climbed 129% to US$492mn and by volume to 88,278t from 30,167t.

Copper concentrate sales to other BRICS countries increased 45.7% to US$255mn, with volumes rising to 168,580t from 94,161t.

Ferronickel shipments doubled to 50,364t and by value rose to US$177mn from US$127mn.

Brazil's total exports to other BRICS nations in the period fell 15.2% to US$40.1bn, according to Secex.